Fuel price drop predicted for June

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IOL mot may16 fuel station . File photo: Newspress

Johannesburg - South Africans could be looking at some relief at the pumps next month, thanks to the more favourable exchange rate and stable international petroleum prices, the AA said on Friday.

"The current data was indicating a drop of between 26 and 30 cents per litre for petrol, and between 20 and 22 cents per litre for diesel," the AA said in a statement.

"We obviously hope that the current trends will continue so that the reductions will be bigger by the end of May. Motorists have had a tough time lately and could do with a break."

However, the rand currently remains vulnerable - having moved as low as R10.27 earlier in the week, before retreating to R10.42 on Friday morning and then moving to R10.38 by the afternoon. Any further slides before the end of the month would most certainly erode any potential fuel price decrease for June.

On May 7, the price of all grades of petrol dropped by 15 cents a litre while diesel decreased by 29.78 cents a litre.

IOL & Sapa

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