Mid-month fuel price predictions: cheaper diesel at the pumps this September

The Central Energy Fund (CEF) has blessed the country with new mid-month fuel price data, cementing the idea that South African motorists will be paying less at the pumps this September than they did throughout August. The Department of Mineral Resources and Energy (DMRE) will officially adjust fuel prices in early September.

Diesel is back, baby

Until then, it’s worth remembering that the CEF’s figures below (captured 15 August) are not set in stone, even if they do paint a prettier picture than last week’s snapshot, with a roughly 40c price decrease expected for diesel drivers this September. Petrol drivers, on the other hand, will be treated to a smaller price decrease.

While these price drops aren’t necessarily what you’ll see at the pumps by the time September rolls around, the CEF’s daily snapshots offer the most accurate predictions. It does this by tracking the various economic factors that influence the price of fuel locally daily, such as the Rand/US Dollar exchange rate and oil prices globally.

It works with the DMRE, which adjusts SA’s fuel prices on the first Wednesday of each new month. In this case, the new prices will come into effect from Wednesday, 3 September. However, it decides on these official changes a few days before — typically on the last Friday of any given month.

We can thank the price of oil rallying internationally throughout August (when compared to previous months) for the expected fuel price cuts down below. The Rand, too, has remained sturdy when up against the Dollar in recent weeks, contributing to the recovery. Should oil prices continue to settle and the Rand strengthen, motorists may have an even larger price cut to look forward to next month.