Motorists are paying up to R164.80 less for petrol than they were three months ago.
Petrol prices have thankfully been on a consistent decline over the last few months in South Africa, with reductions in June, July, August, and September.
The end result is that road users are enjoying considerable savings at the pump compared to what they were spending earlier this year.
What you’re saving
Back in June, the cost of petrol 95 was set at R24.25 per litre at inland rates, but this has since dropped to R22.19 per litre as of September 2024.
Most cars have a fuel tank size of anywhere from 30 litres on hatchbacks up to 80 litres for SUVs and bakkies, which means a small change in cost can have a big impact depending on the type of vehicle you drive.
In June, it would cost R727.50 to fill up the smallest models, or up to R1,940 if you have a large car.
Cut to the latest fuel price adjustments, and motorists are spending anywhere from R61 to R164 less for every top-up, as you can see in the table below:
| Tank size | Cost to refill in June 2024 (R24.25) | Cost to refill in September 2024 (R22.19) | Difference |
| 30 litres | R727.50 | R665.70 | – R61.80 |
| 40 litres | R970 | R887.60 | – R82.40 |
| 50 litres | R1,212.50 | R1,109.50 | – R103 |
| 60 litres | R1,455 | R1,331.40 | – R123.60 |
| 70 litres | R1,697.50 | R1,553.30 | – R144.20 |
| 80 litres | R1,940 | R1,775.20 | – R164.80 |
The good news is that this trend is expected to continue, as the latest data from the Central Energy Fund (CEF) points to further price drops in October.
The improvement in the cost of the crucial liquid is attributed to two main factors – the US dollar/rand exchange rate, and the international trading price of Brent Crude oil.
On 29 August, the rand was trading for R18.058 per dollar, but this has since dropped to R17.32 per dollar as of 23 September.
Adding to this is the global oil price, which dropped from $78.80 to around $71.97 during the first half of September.
Both of these factors will positively affect the cost of buying and importing fuel, which is why the CEF’s latest predicts suggests we’ll see the following at the pump:
- Petrol 93 – Decrease of R1.19 a litre
- Petrol 95 – Decrease of R1.28 a litre
- Diesel 0.05% – Decrease of R1.10 a litre
- Diesel 0.005% – Decrease of R1.11 a litre
It must be noted that these figures are not finalized and the official adjustments will only be announced during the first week of October.
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