Fuel Price Drop in South Africa for June 2024
Motorists in South Africa will be rejoicing in June 2024 as fuel prices are expected to be slashed across the board according to fuel price data released by the Central Energy Fund (CEF).
With the 2024 South African Elections around the corner, there’s an air of uncertainty across the Republic but regardless of the outcome, motorists will at the very least get some relief at the pumps.
During May, international oil prices dropped further, with Brent Crude Oil currently trading at around $81.50 per barrel. During the same period, the South African Rand strengthened significantly against the US Dollar, currently trading at R18.30 to the Dollar, down from R18.80 at the beginning of May 2024. These 2 factors have contributed towards a positive fuel price outlook for June 2024.
The latest unaudited data published by the CEF indicates potential petrol price cuts of 89 c/l and 87 c/l for ULP 93 and ULP 95 grade petrol respectively.
Similarly, the price of 0.05% diesel could be slashed by as much as 92 c/l and the price of 0.005% diesel could be reduced by 87 c/l. Illuminating Paraffin is also expected to be about 78 c/l cheaper come June 2024.
The fuel price cuts are certainly welcome as South African household budgets remain under considerable pressure in a high-inflation environment.
We will keep you updated as official fuel price adjustments are announced towards the end of May 2024.
Fuel Price Forecast for South Africa in June 2024
Fuel Type | May’ 24 Inland | May’ 24 Coast | June 24 Inland* | June 24 Coast* |
| Petrol Unleaded 93 | R25.15 | R24.36 | R24.26 | R23.47 |
| Petrol Unleaded 95 | R25.49 | R24.70 | R24.62 | R23.83 |
| Diesel 0.05% | R22.15 | R21.36 | R21.23 | R20.44 |
| Diesel 0.005% | R22.24 | R21.48 | R21.34 | R20.61 |
*June 2024 figures are forecast figures and not official.
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