Significant decreases in fuel prices across the board are expected in June based on unaudited mid-month data from the Central Energy Fund, says the Automobile Association (AA).
According to the data, 95ULP is expected to drop by about 61c/l, and 93ULP by about 63c/l. The wholesale price of diesel is expected to decrease by about 74c/l and the price of illuminating paraffin by about 69c/l.
The main drivers behind the decreases are a strengthening rand and lower international oil prices. International product prices decreased at the beginning of the month, resulting in expectant lower fuel prices, aided by the trajectory of the rand trading stronger against the dollar since the end of last month.
“The expectant decreases are good news for consumers who have been battered and bruised by these prices in the past few months. With these expected decreases, the price of 95ULP will dip slightly to below the R25/l mark and the price of 93ULP will cost R24.52/l. While fuel is still more expensive than it was at the beginning of the year, these forecast decreases offer some relief,” said the AA.
While these figures are promising, this is only mid-month data and the picture may change by month-end before the adjustments for June are made.
Fuel prices look set to take a dive in June
Image: jarun/123rf
Significant decreases in fuel prices across the board are expected in June based on unaudited mid-month data from the Central Energy Fund, says the Automobile Association (AA).
According to the data, 95ULP is expected to drop by about 61c/l, and 93ULP by about 63c/l. The wholesale price of diesel is expected to decrease by about 74c/l and the price of illuminating paraffin by about 69c/l.
The main drivers behind the decreases are a strengthening rand and lower international oil prices. International product prices decreased at the beginning of the month, resulting in expectant lower fuel prices, aided by the trajectory of the rand trading stronger against the dollar since the end of last month.
“The expectant decreases are good news for consumers who have been battered and bruised by these prices in the past few months. With these expected decreases, the price of 95ULP will dip slightly to below the R25/l mark and the price of 93ULP will cost R24.52/l. While fuel is still more expensive than it was at the beginning of the year, these forecast decreases offer some relief,” said the AA.
While these figures are promising, this is only mid-month data and the picture may change by month-end before the adjustments for June are made.
MORE:
What South Africa's best truck drivers can teach you about saving fuel
Six of our favourite fuel sippers
Fuel-saving tips that could save you up to R30k a year
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Most read
Latest Videos