After months of hefty fuel price increases, motorists could finally breathe a sigh of relief, as the prices of all fuel types are predicted to drop.
According to unaudited data from the Central Energy Fund, 95 ULP is expected to drop by around 61 per litre, and 93 ULP by around 63 cents per litre. The wholesale price of diesel is forecasted to go down by around 74 cents per litre and the price of illuminating paraffin by almost 69 cents per litre.
Commenting on the data, the Automobile Association (AA) said this comes as good news for the consumers who have been battered and bruised by these prices, after four months of consecutive fuel price hikes.
READ MORE: Revived train services to bring relief to Mitchell’s Plain residents
“With these expected decreases, the price of 95 ULP will dip slightly to below the R25 per litre mark and the price of 93 ULP will cost R24.52 per litre. While fuel is still more expensive now than it was at the beginning of the year, these forecast decreases do offer some relief,” said AA spokesperson Eleanor Mavimbela.
Furthermore, these figures are subject to change based on the strength of the Rand and international oil prices.
The final fuel price adjustments will be confirmed at month-end, as the new prices will take effect on Wednesday, 5 June 2024.
