Expected petrol price for June 2018.

At current rates, the fuel price is expected to blow past R15 per litre to new record highs.

South Africans are in line to expect another fuel price hike end May 2018, this is due to rising international oil prices.

This is according to the Automobile Association (AA), which was commenting on unaudited mid-month fuel price data released by the Central Energy Fund. “Last month’s fuel price account was closed earlier by the Department of Energy, resulting in the postponement of a substantial 50 cent-per-litre increase brought on by a weakening rand and rising international oil prices at the end of April,” said the AA.

“However, this means the country started the month (May) with a substantial fuel price deficit. In the first half of May, the fuel picture has continued to worsen, with steep oil price rises and ongoing weakness of the rand against the US dollar.”

The AA expressed their concerns over the impact of the petrol price hike on the economy in South Africa where fuel users are up to face increases of 74 cents a litre for petrol and 81 cents a litre for diesel.

“Rises in the fuel price increases the cost of doing business, and companies have few options but to pass these costs on to consumers. Worryingly, people who use illuminating paraffin for lighting, heating and cooking will suffer a further blow as the country heads into winter,” said the AA.

What you can expect to pay in June:

R15.71/L | 95 Petrol

R15.46/L | 93 Petrol

R14.15/L | 0.05% Diesel (wholesale)

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Posted 16 May 2018 | Frederik Herholdt.

#JunePetrolPrice #PetrolPriceHike