While diesel will come down in June, petrol is set to rise once again.
After two months of relentless price hikes, June appeared poised to offer some much-needed relief for fuel prices. While diesel is expected to see a significant drop, the gradual phase-out of Treasury's fuel tax relief measures suggests that petrol prices are likely to rise.
According to late-month data from the Central Energy Fund, petrol prices could theoretically decrease by 25 cents for 93 unleaded and 21 cents for 95 unleaded at the start of June.
A far more significant over-recovery has developed for diesel, with the same data set pointing to decreases of between R4.60 for 50ppm and R5.29 for 500ppm.
However, the government has indicated that the fuel tax reprieve, announced at the beginning of April, will be halved from June 3 before being phased out at the beginning of July. This means an additional R1.50 needs to be worked into the petrol price and R1.96 into diesel.
