A stronger rand offset a higher oil price to bring some relief to motorists - but only those who drive petrol cars. Picture: BIZOON/123rf
A stronger rand offset a higher oil price to bring some relief to motorists - but only those who drive petrol cars. Picture: BIZOON/123rf

It’s a mixed bag for motorists in June with a 10c/l cut in the petrol price but up to a 21c hike in the price of diesel.

The Central Energy Fund (CEF) confirmed that the retail price of both grades of petrol (93 and 95) will decrease 10c on Wednesday June 2, following a 9c/l drop in May.

The wholesale price of 50ppm diesel will increase 20c/l and low-sulphur 500ppm diesel will rise 21c. It follows a 30c/l price reduction for 50ppm diesel and 31c/l for 500ppm diesel last month.

The wholesale price of illuminating paraffin will also rise 20c.

The CEF, which adjusts fuel prices monthly, attributed the changes to the average international fuel prices increasing during the period under review, offset by the rand appreciating against the US dollar. This led to a lower contribution to the basic fuel prices on petrol, diesel and illuminating paraffin by 17.14 c/l, 16.32 c/l and 15.96 c/l, respectively.

After a series of fuel price hikes in recent months, motorists experienced relief in May when petrol and diesel both became cheaper. In April, petrol reached a record high of R17.32/l for 95 unleaded inland, surpassing the previous record of R17.08 set in late 2018, while motorists were also hit with a 65c hike to the wholesale price of diesel.

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