South Africans to pay R45 less for every tank of petrol
The expected petrol price adjustments for September mean that, on average, South Africans could pay over R45 less to fill up their cars or bakkies.
Data from the Central Energy Fund (CEF) shows an over-recovery of between R0.73 and R0.88 per litre for petrol at the end of August.
In South Africa, the government regulates petrol prices, which are adjusted on the first Wednesday of every month.
The CEF calculates daily petrol, diesel, and illuminating paraffin prices on behalf of the Department of Mineral Resources and Energy (DMRE).
The monthly price change is an average of the previous period’s data, applied to the upcoming month, meaning South Africa’s fuel prices typically lag behind international prices by one month, depending on the prior month’s recovery or deficit.
Petrol prices are determined by both international and domestic factors.
Internationally, the cost is driven by what it would take for an importer to purchase petrol from an international refinery and ship it to South Africa.
On top of this cost, various government-regulated taxes, levies, and margins are added to determine the final retail price.
While most of these government-imposed charges remain stable, the international component primarily causes petrol price fluctuations.
In August, the rand strengthened slightly compared to its July average, largely due to increased investor optimism regarding the Government of National Unity (GNU).
South African assets have recently seen an uptick, with investors injecting capital into the country, bolstering the currency.
Earlier in the month, the rand had dropped following concerns over a potential recession in the United States.
However, as market fears subsided, the rand regained some stability, nearing its stronger levels from July.
While the rand fluctuated, global oil prices remained relatively balanced in August despite market volatility.
According to Bloomberg, crude oil has lost most of its gains for the year as China’s weaker economy overshadowed OPEC+ supply cuts, leading to lower oil prices globally—a positive outcome for South African motorists.
Investment strategist Izak Odendaal from Old Mutual Wealth noted that oil prices haven’t reacted sharply to global events, adding that while commodity prices are cyclical, they are expected to recover eventually.
For now, the stabilised oil market benefits consumers.
According to the latest data, Petrol 93 is expected to decrease by R0.73 per litre and Petrol 95 by R0.78 per litre in September.
How much motorists will save per tank of petrol
South African motorists can expect to save on petrol starting in September, but how much depends on the average petrol tank size.
BusinessTech calculated the average tank size based on the top-selling cars and pickup trucks in South Africa for 2024.
The petrol tank sizes range from 37 litres (Suzuki Swift and Toyota Starlet) to 80 litres (Toyota Hilux and Ford Ranger).
The weighted average tank size for these vehicles is 60.4 litres.
This means that filling up with Petrol 93 will save the average motorist R44.68 while filling up with Petrol 95 will result in savings of R42.28.
These estimates are based on data from the Central Energy Fund (CEF), with the official September petrol price announcement expected at the end of the month.
The table below outlines the savings for owners of popular vehicles when filling up with Petrol 93 or Diesel 0.05%.
| Car | Tank Size (l) | Saving per tank |
| Toyota Hilux | 80* | R49.60 |
| Ford Ranger | 80* | R49.60 |
| Toyota Corolla Cross | 47 | R34.31 |
| VW Polo Vivo | 45 | R32.85 |
| Isuzu D-Max | 76* | R47.12 |
| Suzuki Swift | 37 | R27.01 |
| Toyota Starlet | 37 | R27.01 |
| Hyundai Grand i10 | 60 | R43.80 |
| Nissan NP200 | 50 | R36.50 |
| Toyota HiAce | 70 | R51.10 |
Read: Chinese carmakers’ big play in South Africa – and it’s working
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