Big fuel price drop in June

South African motorists can look forward to a big fuel price drop as of Wednesday, with 95 and 93 octane unleaded petrol (ULP) both set to decrease by R1.24 per litre and diesel by between R1.09 and R1.19.

The fuel price adjustments for June were confirmed by the Department of Mineral Resources and Energy in a statement on Tuesday.

The price drop is even more significant than the predictions earlier in May, thanks to the average international product prices for petrol and diesel that have come down and the rand which appreciated against the dollar for the period 26 April to 30 May 2024.

The fuel price decreases for June will bring welcome relief to all consumers who have seen prices increase steadily since February, the Automobile Association (AA) in a statement on Monday.

“While the decreases will bring relief, the cost of fuel is still higher now than it was just a few short months ago, and again points to the financial pressure many South Africans still experience,” says the AA.

High fuel prices and interest rates are still putting considerable pressure on South Africans – especially those with debt.

The AA reiterated its call for a review of the fuel pricing mechanism to “determine if there are any factors that can be permanently revised to mitigate against rising fuel costs in future”.

“Consumers are embattled, and it is incumbent upon government to find ways to deal with this situation.

“As we have also said many times before, civil society organisations such as ours stand ready to work with the government on finding solutions that benefit all citizens and we believe it is long overdue that the government accepts this invitation for collaboration,” the AA added. — bbc.com