The two biggest factors influencing the price of petrol in South Africa are showing early indications of swinging in the right direction.
An anticipated strengthening of the rand and slipping global oil prices could result in lower petrol prices at the pumps next month.
However, the latest trends in the two biggest factors influencing South African fuel prices suggest that the overrecoveries could be sustained or increased again in the second half of the review period. The graph below shows how the basic fuel price changed over the last two months, with the peak price observed in early July.
At one point during the period under review, the rand had strengthened to around R17.94 following the appointment of President Cyril Ramaphosa’s cabinet.
Central Energy Fund (CEF) Fuel Prices Headline Investec Oil Prices Petrol Prices Motoring
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