South African truckers and motorists will save more at the pumps in October when fuel prices are adjusted this week. Using unaudited data from the Central Energy Fund (CEF), the Automobile Association (AA) last week predicted significant reductions to fuel prices across the board, making this the fifth consecutive decrease this year. And they were right.
The CEF has announced that 0.05% Sulphur diesel is to drop by R1.14/l and 0.005% Sulphur diesel will fall by R1.12/l. /l. Petrol is also coming in cheaper with ULP95 petrol dropping by R1.14/litre while ULP93 is set for a drop R1.06/l.
According to the AA, while international product prices remained stable from the middle of the month, the drop in oil prices is contributing significantly to the reductions. The stronger Rand against the US dollar is playing a smaller role but is assisting in widening the over-recovery anticipated in October.
“Although fuel will be cheaper in October, we remain committed to advocating for a sustainable solution to mitigating high fuel costs and believe it is still necessary. The AA again calls on the government to urgently initiate a transparent review of the fuel price and, critically, to involve all role players who have a stake in fuel pricing,” notes the AA.
The price changes will be effective at midnight on Wednesday, 2 October.
