RELIEF: Fuel prices are set to drop
South African motorists and commuters can expect significant reductions in petrol and diesel prices starting July 1, providing relief at the pumps.
This comes after a truce deal signed by the US and Iran earlier this month caused international oil prices to subside. While the truce appears increasingly fragile, with both sides having exchanged fire over the weekend, any further oil price movements won’t affect July’s fuel prices, although August is another story entirely.
Month-end data from the Central Energy Fund shows an over-recovery of R3.03 for 95 Unleaded petrol and R3.07 for 93 Unleaded, while diesel is even further in the green with over-recoveries of R4.67 for 500ppm and R5.12 for 50ppm.
However, the month of July sees the government’s temporary fuel tax relief programme coming to an end, after being halved in June, meaning that an additional R1.50 will need to be worked back into the fuel price as the General Fuel Levy reverts to the full R4.10 per litre.
