Diesel customers can look forward to significant savings at the pumps from Wednesday, September 3, while petrol is looking set for a minor reduction.

Month-end unaudited data from the Central Energy Fund (CEF) is currently pointing to diesel price reductions of between 55 cents (500ppm) and 56 cents (50ppm), and petrol price decreases of between 4 cents (95 Unleaded) and 12 cents (93 Unleaded).

Should these predictions materialise, a litre of 95 Unleaded petrol will cost R20.76 at the coast and R21.55 in Gauteng, while 93 Unleaded will retail for R21.39. The wholesale price of 50ppm diesel is expected to decline to R18.72 at the coast and R19.48 in Gauteng.

International petroleum and diesel prices are largely responsible for September’s adjustment, with the rand having played a minor role by providing 1.5 cents worth of relief to the equation. International diesel prices, in particular, have fallen during the preceding month, due to rising inventories, Bloomberg reported.

September’s diesel price decrease will, however, bring prices back to the same level as earlier this year.

*This article was first published by IOL News