Motorists can brace for another fuel price hike in June although it might be less severe for petrol users. The latest data from the Central Energy Fund shows that diesel is expected to rise by about R4.41 cents and R3.52 cents per litre.
The under recovery on wholesale paraffin is also substantial at R4.37 cents a litre. The increase in the petrol price is less pronounced at about 18 cents a litre for 95 Octane and 13 cents for 93 Octane.
So, over the past couple of months, weve seen the geopolitical tension between the US and Iran, which has been the primary cause of high global oil prices, which obviously has a direct impact on fuel prices. Now, together with the weaker rand against the dollar, which has caused an increase in the cost of importing fuel, as well as the phased withdrawal of the general fuel heavy reduction, all of this has caused a spike in the SA fuel prices," says Audit Director at BDO SA Palesa Ngomeza.
