Petrol prices are rising: Here’s how it hits your wallet

Petrol will increase again in June as the temporary fuel tax relief programme winds down, but diesel sees a significant decrease. The fuel price outlook for June is a mixed bag for motorists and commuters, with petrol looking set for another increase and diesel seeing a very welcome decrease. The latest available data implies that petrol prices are likely to increase by around R1.05 per litre, while diesel could come down by between R2.62 in the case of 50ppm and R3.60 in the case of 500ppm.

However, this comes with a warning, as the Slate Levy, which compensates fuel companies for price fluctuations in the preceding month, could have a bearing on fuel prices this month, although it seems unlikely to swing things in favour of a petrol price decrease. The official fuel price adjustments will be announced by the Department of Mineral and Petroleum Resources soon. The month-end, unaudited data released by the Central Energy Fund actually painted a far more positive picture, in which 95 unleaded petrol could have decreased by 46 cents, while diesel showed over-recoveries of between R4.93 and R5.56. However, Treasury’s temporary fuel tax relief measures that were announced in April are due to be phased out from June, with R1.50 being reintroduced to the petrol tax tally and R1.96 to diesel.