Motorists will be delighted as fuel prices are expected to drop in the month of June.
Mid-month data from the Central Energy Fund shows that there is an over-recovery in petrol prices. This is likely to lead towards a decrease of between R1.11 and R1.13 per litre next month.
Diesel drivers may also see another cut in fuel prices. Recent data has also pointed to an over-recovery between R1.27 and R1.36 per litre.
Petrol 93: decrease 113 cents a litre;
Petrol 95: decrease 111 cents a litre;
Diesel 0.05%: decrease 136 cents a litre;
Diesel 0.005%: decrease of 127 cents a litre
FUEL PRICES EXPECTED TO DROP
Illuminating paraffin: decrease of 79 cents a litre.
The domestic fuel costs are usually governed by the rand/dollar exchange rate and international oil prices.
The Automobile Association (AA) says lower international product prices are the reason behind the predicted decreases.
“The weaker rand/US dollar exchange rate, though, is taking away from the forecast decreases. Which would also have been more significant had the rand been stronger,” said the AA.
“As it stands, both grades of petrol are heading for decreases of around R1/l, while the decreases to diesel are currently standing at around R1.30/l.
“Importantly, the data is showing that illuminating paraffin, which is such an important fuel at this time of the year, is headed for a decrease of around 80c,” they said.
The fuel price is adjusted on the first Wednesday of every month based on these two factors.