Yet another petrol and diesel price decrease is on the cards for September

The future of motoring is electric. But that’s a game for the first-world countries. The rest of us are primarily concerned with what’s coming next regarding the petrol, diesel and even paraffin prices. Fortunately, we’ve got a fresh batch of predictions from the Central Energy Fund (CEF) to hold us over until the Department of Mineral Resources and Energy adjusts the fuel pumps.

As always, that’ll happen on the first Wednesday of the new month. In this case, that’s Wednesday, 4 September, at which, the Department will, if we’re lucky, knock those prices down. According to the CEF’s latest predictions (captured 19 August), barring any major economic changes, that’s what we’re in for this September.

Adding fuel to the fire

Yup, you read that right. Should the CEF’s predictions hold until 4 September, South Africa will face its fifth consecutive fuel price drop for 2024 – a welcome sign after a shaky start to the year.

For that to happen, we’ll be keeping our fingers crossed for the Rand to strengthen against the US Dollar, while also praying for the downfall of the price of refined oil globally. These, in conjunction with the Department’s self-adjusting slate levy mechanism, are the principal factors behind the ever-moving fuel price within South Africa.

It’s worth noting that while the CEF’s figures (below) are the most accurate summary of the country’s fuel price available, their word is not law. The CEF — a state-owned energy company reporting to the Department — is responsible for tracking those economic factors throughout the month, offering daily insights for South Africa.

The Department reviews this data at the end of the month before coming to an official decision.