JOHANNESBURG - When the Automobile Association released its October fuel price prognosis last week, it was not possible to provide an actual price prediction as at that stage the Department of Energy had not yet released its usual daily price updates via the CEF website.
However, the CEF has now made the mid-month fuel price data available and it could indicate a bit of price relief for motorists, who are already paying record prices for petrol.
According to the data, petrol is looking likely to decrease by around 18 cents a litre in the case of 95 Unleaded and 20 cents a litre for 93 Unleaded, while diesel is looking set for a smaller decrease or even a slight increase, if current trends persist.
However, a small petrol price decrease will be of little consolation to motorists, following the 91 cents a litre increase at the beginning of August.
Going forward, higher international oil prices and a weaker rand are putting South Africa at risk of further increases.
"Until government manages domestic policy more effectively, the rand will continue to expose South Africans to the full brunt of bullish oil prices, meaning South Africans are not getting fuel as cheaply as they could be," the AA said.
95 Unleaded petrol currently costs R17.62 at the coast and R18.34 in the inland regions, where the slightly cheaper 93 Unleaded petrol retails for R18.15. The wholesale price of 50 ppm diesel is currently listed at R14.92 at the coast and R15.52 inland, but as these exclude retail margins, you will pay more than that at the forecourt.