Picture: THINKSTOCK
Picture: THINKSTOCK

THE retail price of petrol in South Africa will fall 5c per litre (c/l) on Wednesday next week but diesel will rise by almost 14c/l, according to the Central Energy Fund’s (CEF’s) website.

Analysts say the petrol decrease is small solace, as higher increases could be on the cards for October, while tension in Syria continues to pressure the currency and oil prices.

Higher diesel prices are also due to affect transport costs and ultimately prices on shop shelves, as most freight is transported to market by vehicles fuelled by diesel.

Diesel is set to rise 13,820c/l to 1,262c/l in wholesale price for 0.05% sulphur in Gauteng and by 14,820c/l for 0.005% sulphur.

Paraffin prices will increase 25c/l wholesale and 33c/l in the single maximum national retail price.

Petrol (95 octane) in Gauteng moves to 1,350c/l from 1,355c/l the month before but remains well above the 786c/l a litre at the beginning of the year.

In coastal areas, the price will be 1,313c/l from 1,318c/l before.

"The decrease in the SA petrol price in September will have almost no impact on October’s inflation rate as the percentage change is extremely small," said Stanlib chief economist Kevin Lings.

"Unfortunately, there is currently a daily under-recovery on the SA petrol price of 47c/l. This means that the petrol price could rise significantly in October, but that will depend on currency and oil price developments during the coming weeks. Clearly the tension in Syria is a concern," Mr Lings said.

According to the CEF, the average international prices of petrol decreased during the period, while diesel and paraffin prices increased.

The rand weakened against the dollar between August 2 and August 29, to 10.0928 from 9.9348 in the prior period.