Motorists can expect some relief at the pumps in June due to a decline in the crude oil price, and a resurgent rand.<\/p>\n
The latest data from the Department of Energy shows that the price of gasoline 93 (ULP & LRP) in Gauteng could drop by as much as 24.4 cents per litre, while the price of diesel with a 0.005% sulphur content could decrease by 19.2 cents per litre.<\/p>\n
According to independent economist, Fanie Brink, the picture could have been a whole lot better, with crude oil up to about $54 a barrel on Wednesday, from $48 per barrel at the beginning of the month.<\/p>\n
Brink said that t<\/span>he price has risen in anticipation of an extension of the agreement between the largest oil producing countries to further reduce their production.<\/p>\n Organisation of Petroleum Exporting Countries (OPEC) is expected to extend its production cuts for another nine months so as to bring the oil market back into balance.<\/p>\n Despite this rise in the crude oil price, the average petroleum products prices were still lower this month than in April, Brink said, and could result in a 17 cents per litre decrease in the gasoline price and 11.9 cents per litre in the diesel price.<\/p>\n The strengthening in the exchange rate to below R13 against the US dollar meanwhile, could lead to a of 7.4 cents per litre reduction in the gasoline price and 7.3 cents per litre in the diesel price in June.<\/p>\n The final price changes will be announced by the Minister of Energy at the end of the month, and will come into effect on Wednesday, 7 June 2017.<\/span><\/p>\n Here\u2019s what you can expect to pay in June, based on current inland<\/strong> prices.<\/p>\n\n\n
\n Fuel<\/th>\n May official<\/th>\n June predicted<\/th>\n<\/tr>\n \n 93 Petrol<\/td>\n R13.57<\/td>\n R13.33 (-0.24)<\/td>\n<\/tr>\n \n 95 Petrol<\/td>\n R13.79<\/td>\n R13.60 (-0.19)<\/td>\n<\/tr>\n \n 0.05% Diesel (wholesale)<\/td>\n R11.81<\/td>\n R11.61 (-0.20)<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n
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