South Africans to Enjoy Another Petrol Price Drop in October
Image Source: Circo26
Johannesburg – South African motorists are in for another treat at the pumps in October. The latest data from the Central Energy Fund (CEF) indicates that both petrol and diesel prices are set for significant reductions.
As of the end of the third week of September, petrol prices are showing an over-recovery of between R1.10 and R1.17 per liter. Diesel prices, meanwhile, are expected to drop by approximately R1.11 per liter.
This welcome news comes amid a global trend of falling fuel prices. The UK, for example, has also seen a sharp decline in petrol and diesel costs this year.
The CEF’s figures are based on international oil prices, which have been on a downward trajectory in recent months. This, coupled with a stronger South African rand, has contributed to the over-recovery in fuel prices.
While the exact extent of the price cuts in October will be determined closer to the end of the month, motorists can expect to see some relief at the pumps. This is good news for South Africans who have been struggling with rising fuel costs in recent years.
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