Petrol prices have been in an upward spiral since the start of the year, but motorists could get some much needed relief from the beginning of June.
The latest daily snapshot released by the Central Energy Fund (CEF) shows that a strong over-recovery has developed for both petrol and diesel, which could translate into substantial price decreases next month.
As it stands the month-average is pointing towards a decrease of around 42 cents for petrol, but if current trends highlighted by the latest daily data persist until month end, a price drop in the region of R1 per litre is more likely than not.
Fuel price snapshot on May 8, released by the Central Energy Fund.That would bring the price of a litre of 95 Unleaded petrol down to about R23.70 while the cost of 93 Unleaded could sink to R24.15 in Gauteng.
Diesel is looking set for decreases of between 69 cents (500ppm) and 74 cents (50ppm) according to the current data, and those numbers are also on an upward trajectory.
These fuel price predictions, of course, come with the usual big shiny caveat, as much could still change between now and month-end, particularly given the volatile situation in the Middle East.
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