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