According to recent unaudited mid-month data from the Central Energy Fund (CEF), September gasoline costs are predicted to drop significantly across the board. The General Fuel Levy (GFL) will not get any refunds, thus the anticipated decreases will be significant, according to the Automobile Association (AA).

“The 75c/l for gasoline and diesel that was returned to the GFL largely offset the decreases in fuel prices in August. But that is not a concern for the decreases anticipated in September, according to the AA. The results predict that 95ULP will decrease by roughly R2.60/l and 93ULP by roughly R2.45/l. It is anticipated that the cost of diesel at wholesale will drop by almost R2.30/l and the cost of lighting paraffin by nearly R2.00/l.

A rising Rand and decreased global oil prices are the key causes of the declines. “The anticipated drops are welcome news for consumers who have suffered greatly from these prices over the past six months. 

With these anticipated drops, the cost of 95ULP will fall under R23/l, and the cost of 93ULP will be slightly higher than R22.50l. Although fuel prices are still higher currently than they were at the beginning of the year, these anticipated drops do provide some solace, according to the AA.

The Association notes that although these numbers are encouraging, it is important to keep in mind that they are merely mid-month data and that things could alter by month’s end before adjustments for September are completed.