Yeah, the Rand is struggling. Load shedding has only gotten worse. And we must work while Tears of the Kingdom taunts us from afar. Let’s just say things haven’t been going swimmingly. Oddly enough though, we can’t say the same about the country’s petrol prices in June. Don’t get us wrong; they’re anything but cheap. Though, if the Central Energy Fund’s (CEF) latest predictions are correct, we could see a R1 drop across the board. Yes, that includes you, buyer of illuminating paraffin.
So, who do we have to thank for the expected drop in prices come Wednesday, 7 June? Well, nobody. And certainly not the Department of Energy. International oil prices have, for the most part, stuck to the prices they were a month ago, allowing for an ‘over-recovery’ of fuel prices in South Africa to take place.
It’s happening! Stay calm!
Of course, these figures below are just predictions and shouldn’t be taken as anything official. The CEF made these predictions with data captured on 19 May, based on the current prices of oil internationally, and the Rand/US Dollar exchange used to purchase it. The final decision rests with the Department of Energy, which decides the next month’s prices at the end of every month.
Here are the fuel price predictions (so far) for June 2023:
- Petrol 95: decrease of 100 cents per litre (R1.00)
- Petrol 93: decrease of 100 cents per litre (R1.00)
- Diesel 0.05%: decrease of 112 cents per litre (R1.12)
- Diesel 0.005%: decrease of 106 cents per litre (R1.06)
- Illuminating Paraffin: decrease of 61 cents per litre (R0.61)
Whether these predictions will hold true for another two weeks (and one day, but who’s counting?) we couldn’t say. It’s held onto that R1 drop so far, meaning chances are good that we’ll be paying less at the petrol pumps once the clock strikes midnight on Wednesday, 7 June.
Source: Central Energy Fund
