July fuel price predictions looking positive

Just as you get used to paying a certain amount for fuel, it changes again. And not always for the better. Thankfully, the latest batch of the Central Energy Fund’s (CEF) July fuel predictions (as of 10 June) aren’t looking too bad for petrol or diesel-fueled motorists.

When the official figures came in for June’s fuel prices, they signalled welcome decreases across the board. Unfortunately, petrol’s decrease was offset by the government’s R3.00-per-litre fuel levy relief being halved, leading to a (relatively) slight increase.

How much now?

Thanks to a range of factors, local prices of petrol and diesel are both looking good. It’s still pretty early, so there’s a chance for things to improve further, or go horribly wrong, before the official prices change on the 1st of July. But, should things stay as they are, more decreases are inbound.

Petrol 93 could see a decrease of R2.56, while Petrol 95 might see a R2.55 reduction in price. Diesel 0.05% is looking stronger, with a possible R4.42 decrease, while the ‘cleaner’ diesel 0.005% could be reduced by as much as R4.68.

But despite further reductions on the cards in July, the National Treasury wants the rest of its money back, meaning the last R1.50 and R1.97 for petrol and diesel respectively, will be added back to the prices next month. Still, it could be worse.