July fuel outlook favours petrol users

Barring no last-minute changes, motorists of petrol vehicles are in for a slight reprieve next week, while their diesel counterparts can expect to fork out more.

This as the latest data from the Central Energy Fund (CEF) shows a drop of between 15 and 22c/litre for petrol and a 14 to 20c/litre increase in diesel.

Analysts, however, say changes to the self-adjusting slate levy might limit the decrease in prices when they take effect on Wednesday, 5 July.

South Africa’s petrol prices are benefitting from a stronger rand/dollar exchange rate, which at the close of business on Wednesday saw R18.69 buying $1.

Economists have, however, warned that multiple threats could keep the rand undervalued in the near term, thereby limiting the benefits to fuel prices.

Such events include the BRICS summit scheduled to be held in Durban in August, load-shedding, and the 2024 general elections.

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