SAVINGS: Petrol pump
Image: File
South Africans can look forward to lekker fuel savings from tomorrow with both petrol and diesel decreases predicted.
Unaudited month-end data from the Central Energy Fund (CEF) points to petrol price drop in the region of 64 cents for 93 Unleaded and 78 cents for 95 Unleaded, while diesel is set to go down by between 90 cents (500ppm) and 92 cents (50ppm).
This should see 93 Unleaded retailing at around R21.45 in Gauteng and 95 Unleaded at R21.56, with a coastal price of about R20.77. The wholesale price of 50ppm diesel should recede to R18.53 at the coast and R19.29 inland.
The official fuel prices for April are set to be announced by the Department of Mineral Resources and Energy.
The predicted decreases come largely as a result of lower international product prices, which contributed between 52 cents and 66 cents to the petrol price over-recovery and up to 80 cents to the anticipated diesel decrease.
A slightly stronger rand has also contributed around 12 cents to the price equation for April. However, factors such as the Slate Levy could have an impact on the final pricing structure.
While petrol price cuts in the region of R1 were looking likely earlier in March, the over-recovery took a hit after US President Donald Trump threatened to impose tariffs on Venezuelan oil importers, which saw oil prices rise to around the $73 mark.
April's fuel price relief comes after a seven cent decrease at the beginning of March, which followed four consecutive months of price increases.