Good news as potential fuel decreases in sight

Automobile Association forecasts decrease in all fuels next month amid lower international prices and a strengthening rand.

After months of consecutive petrol increases, motorists can look forward to a slight reprieve in June as fuel decreases are on the cards.

This is according to the Automobile Association (AA) commenting on unaudited mid-month data from the Central Energy Fund.

According to the data, 95ULP is expected to drop by around 61c/l and 93ULP by around 63c/l.

The wholesale price of diesel is expected to decrease by around 74c/l and the price of illuminating paraffin by almost 69c/l.

The association said a strengthening rand and lower international oil prices are among the drivers for the upcoming decrease, saying movements in international product prices decreased substantially at the beginning of the month.

“The expectant decreases are good news for consumers who have been battered and bruised by these prices in the last couple of 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 now than it was at the beginning of the year, these forecast decreases do offer some relief,” said the AA in a statement.

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