A huge relief at the pumps is looming in June as the mid-month data from the Central Energy Fund (CEF) point to a drop in fuel prices.
The CEF data show an over-recovery in petrol prices, which could translate into a decrease of between R1.11 and R1.13 per litre. The data also indicate an over-recovery of between R1.27 per litre for 50ppm and R1.36 per litre for 500ppm for diesel.
This after motorists have had to navigate a tough road of continuous petrol price hikes in recent months.
A consistent decline in global oil prices since the start of April has been cited as the main factor contributing to next month’s expected lower fuel prices.
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