Major petrol price drop expected for July

There is great news on the cards for South African motorists with expectations of there being a significant drop in the fuel price in July.

After five months of suffering the Central Energy Fund is predicting some relief with petrol expected to decrease by about 90 cents a litre and diesel by 70 cents a litre from July.

Independent Media reported that this is due to the drop in the oil prices which have fallen from $71 in May to about $62.63 in June.

Unfortunately due to the ANC’s public debacle over the Reserve Bank’s mandate the rand took a dip against the US dollar.  Should the rand gain the price cut will be bigger.

While it is still a little early to predict the price drop, it is a good indicator of what is to come, and based on this prediction we could be seeing fuel pricing at:

  • Petrol at the coast R15.22
  • Petrol inland R15.67
  • Diesel at the coast R13.83
  • Diesel inland R14.31