You will pay less at the pumps for petrol and diesel in September, but perhaps not by as much as you expected.
While the reductions are substantial, they are less than initially anticipated from the CEF’s mid-month data, which indicated petrol price drops of more than R2.50 per litre and diesel price reductions of over R1.
The deviation could be attributed to an increase in the slate levy, which will add 30.66 cents to the prices of petrol and diesel from 7 September 2022.In addition, although the average price of the rand against the dollar increased slightly compared to July, the currency took a beating in the second half of August.
At market close on 15 August 2022, the rand was trading at R16.43 to the dollar, compared to R17.14 by Wednesday, 31 August 2022. To illustrate how the petrol price change will impact you, we’ve calculated how much it would cost to fill up the typical tanks of vehicles in South Africa with current prices compared to the new prices for September 2022.Price to fill up typical vehicle tanks
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