Much-needed relief is on the cards for South African motorists as the fuel price outlook for June looks positive.
The Automobile Association (AA) is predicting a decrease of around R1 per litre for both grades of petrol.
“Decreases to diesel are currently standing at around R1.30 per litre. Importantly, the data is showing that illuminating paraffin, which is such an important fuel at this time of year, is headed for a decrease of around 80c,” said AA spokesperson Layton Beard.
Beard said recent currency weakness is, however, taking away from the forecast decreases, ‘which would have been more significant had the rand been stronger’.
The AA is commenting on unaudited mid-month data from the Central Energy Fund (CEF).
“These decreases are positive and will ease pressure on our economy and on consumers. Of course, this is only one indicator and we cannot ignore higher interest rates and food prices, but a decrease to fuel costs will make a difference to many,” said Beard.
While the picture could change in the coming weeks, the association said it remains confident that significant decreases to fuel prices will be seen next month.
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