South African motorists may see significant fuel price reductions in July, contingent on international oil prices and the reinstatement of fuel taxes.
South African motorists may see significant fuel price reductions in July, contingent on international oil prices and the reinstatement of fuel taxes
This comes after the truce signed by the US and Iran last week caused international oil prices to subside.
However, assuming that the truce holds, and that the crucial Strait of Hormuz choke point remains open, much of the relief might only be seen in August fuel prices.
The latest daily report from the Central Energy Fund shows petrol price over-recoveries of between R2.93 (95 Unleaded) and R2.97 (93 Unleaded), while diesel is in the green by between R4.60 (500ppm) and R5.02 (50ppm).
