Great news for South Africans as fuel prices are expected to decrease in June, thanks to a stronger rand/US dollar exchange rate and lower international product prices. The Automobile Association (AA) has reported significant fuel price decreases based on unaudited data from the Central Energy Fund (CEF).
According to the AA, petrol prices are set to decrease by about R1.06/l for both 95ULP and 93ULP, diesel by about R1/l, and illuminating paraffin by about 80c/l. This relief comes after months of steady price increases since February.
While this decrease will provide some relief to consumers, the AA highlights that fuel prices are still higher than they were a few months ago, adding financial pressure to many South Africans. The AA is calling for a review of the fuel pricing mechanism to identify permanent solutions to mitigate against rising fuel costs in the future.
Government collaboration with civil society organizations like the AA is crucial in finding long-term solutions to alleviate the financial strain on citizens. As South Africans anticipate official fuel data adjustments this month, the hope is for substantial decreases to provide much-needed relief.