Petrol price cut: Here’s how much it will cost to fill your tank

ALTHOUGH fuel in South Africa is still significantly more expensive than it was a year ago, September’s fuel price cuts, which take effect from Wednesday, September 7, will most certainly be welcomed by over-stretched motorists.

With both grades of petrol falling by R2.04, a litre of 95 Unleaded will now cost R22.73 at the coast and R23.38 in the inland regions, where 93 Unleaded will retail at R22.95. Historically that is still rather expensive, with 95 ULP having cost just R17.62 a year ago, but the cost-per-tank savings this month are still significant.

Consider that filling the tank of a compact car like a Toyota Starlet of Suzuki Swift, assuming you’re putting 32 litres into its 37-litre tank, will save you around R65 after the price adjustment. If you own a mid-size car like a Toyota Corolla, Volkswagen Tiguan or BMW 3 Series, you can look forward to savings of over R100 per tank.

Below is the estimated refuel cost for some of South Africa’s popular cars and SUVs:

Unfortunately, the savings will be much smaller for those driving diesel-powered vehicles. As the prices are only falling by between 46 c/l (50ppm) and 56 c/l (500ppm) filling up a Toyota Hilux or Fortuner will only cost R34.50 less in September.

As diesel is unregulated a cost-per-tank calculation is not possible, but do be sure to shop around. For the record, the wholesale price of diesel will be R23.30 at the coast and R23.95 inland from September 7.

Another fuel price cut ahead?

Very early indications from the Central Energy Fund show an under-recovery of more than R2 for petrol, which would translate into a decrease of that magnitude if the current oil price and rand scenario continues throughout September. However, diesel is currently showing an under-recovery of around 50 cents, which would translate into an increase. But do take these predictions with a pinch of salt as it is far too early in the month to make an accurate prediction.

Although petrol prices are moving in the right direction, the Automobile Association says fuel is still far too expensive in this country.

“Although fuel will be cheaper in September, we remain concerned about the overall high prices which impact on all consumers,” the AA said.

The association has again called on government to conduct a transparent review of the fuel price, which should include a “deeper interrogation” of how government currently allocates its funds.