The Instability Of SA’s Petrol Price Is Giving Me Heartburn

It was also reported by the AA that a number of things can impact the price of fuel from June onwards and advised that we don't expect the petrol price to stabilize any time soon.

Flag of South Africa on the car's fuel tank filler flap.
Flag of South Africa on the car's fuel tank filler flap. AKlion / Shutterstock.com

I feel like I’m on a yo-yo diet here, up, down, up, down. South Africa’s petrol price is more unstable than my aunt Karen!

So the latest update on the petrol price is that it’s going to decrease and then it’s going to increase again. Let’s have a look:

The Latest Word: A Decrease in Petrol Price

The AA (Automobile Association) has announced that South Africans can expect a drop in petrol price.

The Central Energy Fund released unaudited data saying, “International oil prices have been up and down in May,” the AA said.

“The basic petrol price has traded between 740 and 780 cents a litre, which averages out 19 cents lower for the month.”

“This means that petrol prices will still drop by about ten cents a litre,” the AA said.

Woman pumping petrol at gas station into vehicle.
Woman pumping petrol at gas station into vehicle. Krasula / Shutterstock.com

The Unfortunate News for Diesel Drivers (sorry guys)

Looks like Diesel drivers aren’t so lucky this time, to be fair their price hikes aren’t as severe as the petrol price hikes so is it really unfair? The word is that the basic diesel price will increase by 2 cents, therefore diesel drivers are looking at a 14 cents increase per litre. Illuminating paraffin also got unlucky this time with a price increase of about 9 cents.

Here are the expected petrol and diesel price changes for June:

  • Diesel price increase – 14c per litre
  • Petrol price decrease – 10c per litre

Petrol Drivers Feeling Good? Well Don’t Get Excited

You know how I said at the beginning the petrol price is dropping, well I wasn’t lying but it’s also going to increase in June. During the month of June 2019, the AA announced that the introduction of the new Carbon Tax will change your excitement as petrol price will increase by about 9 cents per litre and diesel approximately 10 cents per litre.

“In effect, this means that petrol will decrease by only one cent a litre, while diesel will increase more significantly by around 24 cents a litre,” said the AA.

It was also reported by the AA that a number of things can impact the price of fuel from June onwards and advised that we don’t expect the petrol price to stabilize any time soon.

Making you feel unstable, yeah me too! But we will keep you updated as soon as we here more news. – lourie@techfinancials.co.za

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