Prices for petrol will fall in June, while prices for both diesel and illuminating paraffin will go up.
This is according to BusinessTech, which reported on the latest fuel price adjustments published the Department of Mineral Resources and Energy.
The following fuel price adjustments will come into effect on Wednesday, 2 June 2021.
- Petrol 95 – decrease of 10 cents per litre
- Petrol 93 – decrease of 10 cents per litre
- Diesel 0.05% – increase of 20 cents per litre
- Diesel 0.005% – increase of 21 cents per litre
- Illuminating Paraffin – increase of 20 cents per litre
The movement in prices is affected by two main factors – the rand/US dollar exchange rate, and international petroleum costs.
“The average international product prices for petrol, diesel, and illuminating paraffin increased during the period under review,” said the report.
The rand continued to gain strength against the US dollar during this same period, leading to a lower contribution to the Basic Fuel Price.
However, the Automobile Association of South Africa states that a sharp spike in oil prices at the beginning of the month is still affecting fuel prices, with diesel feeling the brunt of the impact.
“For as long as our currency continues to put in strong performances against the US dollar, the impact of rebounding international oil prices will be softened,” said the AA.
Below are the adjusted inland prices for June.
- Petrol 95 – R17.13
- Petrol 93 – R16.91
- Diesel 0.05% (wholesale) – R14.66
- Diesel 0.005% (wholesale) – R14.71
- Illuminating Paraffin – R8.77