The price of fuel will drop for the first time in six months this Wednesday, July 3.
“On July 3, the price of 93 ULP petrol will drop by 96 cents a litre, while 95 ULP will cost 95 cents less a litre. The price of diesel will drop by 74.78 cents per litre,” the Department of Energy said in a statement. “The price of paraffin will be reduced by 57 cents a litre.”
According to the Automobile Association (AA), June was the weakest month of the year for oil. “Although the rand re-strengthened against the dollar towards month end, the exchange rate average for the month is negative by about 11 cents, meaning fuel users missed out on an even bigger drop,” the organisation. “At this stage of the month, we are predicting a decrease of 91 cents a litre to the petrol price, 70 cents to the diesel price, and 62 cents to illuminating paraffin.”
The Central Energy Fund (CEF) had previously predicted that the price of fuel would drop by only 90 cents per litre, and that diesel would drop by 62 cents per litre.
The official fuel prices will be as follows:
95 Petrol – R15.81
93 Petrol – R15.61
0.05% Diesel (wholesale) – R14.46