Solly  Matshonisa Seeletse, Matthew  Femi Olayiwola, 
    Statistical Forecasting of Petrol Price in South Africa,
    Journal of Engineering and Applied Sciences,
    Volume 15,Issue 2,
    2020,
    Pages 602-606,
    ISSN 1816-949x,
    jeasci.2020.602.606,
    (https://makhillpublications.co/view-article.php?doi=jeasci.2020.602.606)
    Abstract: This study focuses on the commercial patterns of petrol price in South Africa. Its aim is to determine
the continuity of past patterns of the petrol price series into the future using time series techniques. About 14
years monthly-based retail fuel prices of unleaded 95 petrol were collected from the Department of Energy,
South Africa. Price settings on consumer goods are used for economic growth. On the other hand, sudden price
fluctuations inconvenience consumers. Also, price increases reduce disposable cash for the consumers. These
patterns reduce wealth and for the average consumer they may lead to poverty. The study results show that in
South Africa, the upward trend variation continues into the future petrol price in a quadratic rate while there
are also some indications of seasonality of petrol price.
    Keywords: Autocorrelation function;correlogram;fuel price;stationarity;economic growth;South Africa