By: Natasha Archary
South African motorists can breathe a deeper sigh of relief as another big petrol cut is expected in September.
Early predictions based on the latest data by the Central Energy Fund (CEF), shows that an estimated R3/litre cut is on the cards.
Talks that the petrol price is expected to drop so drastically comes after the DA called for a reduction of R6/litre earlier this month.
The price of petrol for August fell by R1.32/litre, and diesel prices fell by between 88c and 91c/litre.
Pushing for motorists to be exempt from paying high taxes and levies on the price per litre of fuel, the DA said that August’s R1.32 drop was nothing to write home about.
The opposition party said a higher decrease is not impossible but will require government taking a serious stance against corruption.
According to the data, the latest drop comes due to a marked decline in the per barrel rate of oil.
Dropping from $117 in June to $105 in July, the current oil price is sitting at a $95-$96 per barrel rate.
South Africans can expect the official price for September to be announced by Minister for Mineral Resources and Energy, Gwede Mantashe at the end of August.
The new price will then come into effect from midnight on 06 September.
With the current price per litre of 93 octane at R24.99, the R3.00 cut will take the price down to R21.99/litre.
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