South African petrol prices are set to rise in June, with diesel expected to become significantly cheaper, according to the latest Central Energy Fund (CEF) data.
The daily snapshot shows a small over-recovery of between three cents for 95 unleaded and eight cents for 93 unleaded, while diesel is currently looking set for decreases of between R5.01 (500ppm) and R4.25 (50ppm).
However, this relief is expected to be tempered by the phased withdrawal of Treasury’s fuel tax relief measures, announced in April. From 3 June, the relief will be halved, to R1.50 in the case of petrol and R1.96 for diesel, before being fully removed in July.
This means petrol is likely to see an increase of more than R1 next month, while the diesel decreases should be in the region of R2.30 to R3. That’s not withstanding any effects that the Slate Balance might have on pricing.
Meanwhile, Mineral and Petroleum Resources Minister Gwede Mantashe has renewed calls for the creation of a state-owned fuel company, saying South Africa needs long-term solutions to rising fuel costs and reduced reliance on imports.
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