Next week Wednesday, 6 June, the Department of Mineral Resources and Energy (DoE), will adjust the country’s petrol and diesel prices at the pumps. Thanks to a fresh crop of predictions from the Central Energy Fund (CEF), captured on 27 May, petrol drivers have a R1 drop to look forward to — the first decrease for petrol drivers since January.
Diesel drivers, you haven’t been forgotten. For the second month in a row, the CEF is predicting yet another price decrease — mimicking the R1 drop headed petrol’s way at the beginning of June. Should the CEF’s predictions prove accurate — which often do — diesel drivers can expect to pay less than R22/l at the pumps next week.
Good news, everyone!
Before you get too excited, it’s worth mentioning that these are nothing more than predictions until the Department confirms the changes at the end of May. The CEF, a state-owned energy company reporting directly to the DoE, looks at all the pertinent data that the DoE does, ona. daily basis to arrive at the figures we’ve got below.
That data involves South Africa’s looking at the current Rand/US Dollar exchange rate and the price of refined oil globally. Thanks to a stronger month than most for the Rand and the static price of refined oil globally, the CEF is predicting a R1+ drop in fuel prices across the board.
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Of course, there are still the DoE’s official changes to worry about. The CEF’s predictions cannot compensate for the DoE’s slate levy or retail margin changes, which are only announced alongside the official petrol price adjustments.
Here are the petrol and diesel price predictions (so far) for June 2024:
- Petrol 93: decrease of 100 cents per litre (R1.00)
- Petrol 95: decrease of 100 cents per litre (R1.00)
- Diesel 0.05%: decrease of 100 cents per litre (R1.00)
- Diesel 0.005%: decrease of 91 cents per litre (R0.91)
- Illuminating Paraffin: decrease of 80 cents per litre (R0.80)