Fin24 reports that as matters stand, petrol and diesel prices are on track for cuts at the start of September.

The latest estimate from the Central Energy Fund shows that the price of 95 unleaded petrol is due for a decrease of around 67c a litre, while the wholesale price of diesel could be lowered by 53c (0.05% sulphur content) and 77c (0.005%) a litre. Petrol prices were cut by 15c a litre at the start of August, while wholesale diesel prices fell by 17c or 28c, depending on the sulphur content. Fuel prices are now at their cheapest levels since January this year, with petrol (95) selling for R23.11 a litre in Gauteng, and R22.32 on the coast. South African fuel prices are largely determined by international oil and fuel costs and the rand exchange rate, as oil is priced in dollars. Fuel prices are usually adjusted on the first Wednesday of the month.

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