Petrol and illuminating paraffin prices are set for a second consecutive month of price decreases when fuel prices are officially adjusted next Wednesday. This is according to the latest unaudited data from the Central Energy Fund (CEF). However, the Automobile Association (AA) said the data is showing diesel prices are set to increase.
“The breakdown of the data shows the average exchange rate used in the basic fuel price decreased over June from around R19.50 to the US dollar to around R18.80 to the US$, which accounts for most of the petrol price decrease,” said the AA.
“However, the movement in international oil prices is impacting negatively on diesel and contributing to its expected increase.”
According to the data, both grades of petrol are expected to decrease by between 17c/litre and 25c/l, while diesel is expected to increase by about 20c/l. Illuminating paraffin is set for a marginal decrease of 3c/l.
“A decrease in the price of petrol is naturally welcome news and will provide some relief to embattled consumers. The increase in diesel means input costs in, among other sectors the agricultural and manufacturing sectors, are likely to increase which may result in higher prices for consumers,” said the AA.
Fuel prices for July will be adjusted on July 5.
