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Petrol and diesel prices are currently on track for more steep cuts at the start of October, which could push fuel prices to levels last seen before Russia invaded Ukraine in February 2022.

The latest estimate from the Central Energy Fund (CEF) shows that the price of 95 unleaded petrol is due for a decrease of R1.26 around a litre, while the wholesale price of diesel could be lowered by around R1.10 a litre. Final prices will only be fixed at the end of September.

At the start of this month, petrol and diesel prices were cut by around a rand a litre.

While there are still two weeks left to go, the current forecasted cuts would lower the price of 95 unleaded petrol in Gauteng to below R21 for the first time in 31 months. At the current estimate, coastal petrol prices may fall to around R20.20.

Gauteng diesel prices may fall to around R18.50 a litre at the current estimate, and at the coast, to R17.70 — also the lowest levels since February 2022.

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