Motorists can anticipate minor adjustments in fuel prices for the coming month, with the latest unaudited data from the Central Energy Fund indicating slight variations. While petrol prices are expected to experience a small decrease, diesel prices may see a slight increase.
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According to IOL, it currently appears that July will bring decreases of approximately 15 cents for 93-unleaded petrol and 7 cents for 95-unleaded petrol.
It should be noted that these figures are subject to change in the next ten days. While the minor decrease could potentially turn into a slight increase, it is unlikely that petrol prices will undergo significant fluctuations.
On the other hand, diesel prices are projected to rise. The average for the current month suggests an increase of around 15 cents for 500 ppm diesel. However, the latest daily data reveals an even larger under-recovery, which might push the figure closer to 30 cents or even higher by the end of the month if current trends persist.
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International oil prices have experienced a slight upward trend this month, with Brent Crude oil trading at just over $76. Meanwhile, the South African rand has appreciated somewhat against the US dollar, with the current exchange rate listed at R18.15, compared to the previous month’s average of R18.98.
As of now, the retail price for a litre of 95-unleaded petrol stands at R21.91 in coastal regions and R22.63 in inland areas. The cheaper 93-unleaded petrol is priced at R22.30. It is worth noting that at the beginning of the year, a litre of 95-unleaded petrol cost R20.75 in coastal regions.
For 50ppm diesel, the wholesale price is currently listed at R18.99 in coastal regions, representing a decrease from the R20.78 price recorded in January.
This is positive news for general inflation, considering the widespread use of diesel in various industries.
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