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Further fuel price pain expected for June 2022

Data from the Central Energy Fund has suggested that motorists are going to suffer further fuel price increases for the month of June 2022.
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Motorists have to tighten their belts yet again as the Central Energy Fund (CEF) is predicting further petrol and diesel price increases for the month of June 2022.

As it stands, petrol is expected to increase by between R1.93 and R1.97 a litre, diesel is expected to increase by between R1.60 and R1.62 a litre, and illuminating paraffin is expected to climb by a whopping R2.14 a litre.

Despite the government’s R1.50 relaxation of the GFL (General Fuel Levy) to try to take the sting out of increases, this has not really helped and this relief ends this month.

“In late March government reduced the GFL by R1.50 for April and May which brought temporary relief to consumers. The big question now is how government plans to deal with rising fuel costs from June onwards, especially given that baseline prices are forecast to move significantly upwards in June. Based on the current, unaudited data from the CEF petrol,” notes the Automobile Association (AA).

“The two main factors which influence local fuel prices are the R/US dollar exchange rate and international oil prices. The Rand is currently trading weaker against the dollar and oil prices are also still high. Given this, the outlook for June’s fuel prices does not look positive,” says the AA.

This article was originally published on Cars.co.za.



SOURCE

Cars.co.za

Cars.co.za is a leading online automotive retail portal that lists more than 70 000 vehicles stocked by hundreds of dealers countrywide, as well as the top-ranked branded SA YouTube channel. In 2015, Cars.co.za repositioned itself as a consumer champion by optimising its editorial content for the purposes of engaging and empowering its users. The Cars.co.za Ownership Satisfaction Survey, in association with Lightstone Consumer, and the Cars.co.za Consumer Awards – powered by WesBank, underlines the company’s objective to be the most comprehensive resource to South African vehicle buyers.


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