Unaudited mid-month fuel data from the Central Energy Fund (CEF) indicate a decrease in prices for all fuels next month, with ULP93 currently showing the biggest decrease.
Unaudited mid-month fuel data from the Central Energy Fund (CEF) indicate a decrease in prices for all fuels next month, with ULP93 currently showing the biggest decrease.
However, the AA said this may change ahead of the official adjustment by the Department of Mineral Resources and Energy (DMRE) at the end of the month.
Based on the current data, ULP95 is showing a decrease of around R1.10c/litre, while ULP93 is indicating a decrease of around R1.15c/l.
Diesel is edging towards a decrease of 55c/l and illuminating paraffin is showing a decrease of around 45c/l.
These decreases, however, will not move the prices of fuel to lower prices seen at the beginning of the year, the AA said.
“At this stage of the month, the numbers are more reflective of the way the fuel prices are likely to move when they are adjusted for July. Currently, the trajectory indicates that all fuels will be cheaper in July.”
International product prices remain relatively low, with the price of global oil dropping significantly at the beginning of the month. The impact of the average Rand/US Dollar exchange rate for the reporting period must also still be fully factored in which may move fuel pricing either way, the AA said.
“These decreases will go a long way to further alleviating the fuel price burden,” it said.
Fuel prices are expected to be adjusted on July 3.
Cape Times
Related Topics: