Cape Town – In June, motorists will benefit from significant price reductions across all grades of fuel.
Petrol prices for both 93 and 95 unleaded will decrease by R1.24 per liter, while the price of high-sulphur 0.05% diesel will drop by R1.18 per liter and low-sulphur 0.005% diesel by R1.09 per liter.
Illuminating paraffin will be reduced by 80 cents per liter.
These cuts are attributed to lower international fuel prices and the rand appreciating against the US dollar.
Despite this relief, the Automobile Association (AA) notes that fuel costs remain high and urges the government to review the fuel pricing mechanism to address long-term price stability.
From June 5, 2024, inland fuel prices will be R23.91 for 93 ULP petrol, R24.25 for 95 ULP petrol, R20.96 for 0.05% diesel, and R21.15 for 0.005% diesel.
“High fuel costs and interest rates are strangling many South Africans, specially those with debt, and any positive development will be well received. However, it remains necessary the fuel pricing mechanism is reviewed to determine if there are any factors that can be permanently revised to mitigate against rising fuel costs in future,” said the association.
It added: “This is a call we have been making on government since 2018 and the longer it takes to do so, the longer South Africans will bear the brunt of fluctuations in the factors that influence the fuel price.”
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Compiled by Betha Madhomu
