Mid-month data from the Central Energy Fund (CEF) projects another petrol price increase to come in September, however diesel prices are forecast to come down.
The data collected by the CEF shows a slight under-recovery for both petrol grades, pointing to a 2 to 7 cents per litre hike, while diesel prices show an over-recovery of around 12 cents per litre.
The petrol and diesel prices for September are projected as follows:
- Petrol 95: increase of 7 cents per litre;
- Petrol 93: increase of 2 cents per litre;
- Diesel 0.05%: decrease of 12 cents per litre;
- Diesel 0.005%: decrease of 12 cents per litre;
- Illuminating Paraffin: decrease of 7 cents per litre.
While the mid-month data serves a possible guideline, the Department of Energy makes adjustments based on a review of the full period. Furthermore the outlook can change significantly before month-end as the petrol price is affected by two components – the exchange rate and changes tp international petroleum product costs.
Sources: BusinessTech
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