Wednesday, 29 April 2020 10:44

 

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Motorists enjoyed one of the biggest fuel price decreases ever in April, with petrol falling by up to R1.88 and diesel by R1.35, although most people didn't feel the benefit due to the nationwide lockdown.

However, there is further good news for May, with late-month data from the Central Energy Fund pointing towards another significant price cut.

Next month’s fuel price calculation will be based on international oil price data up to April 29, and with just two days to go, the current month-average numbers are pointing towards a price decrease of R1.73 a litre for 95 Unleaded petrol and R1.46 for low-sulphur 50ppm diesel. The CEF has not listed the data for 93 Unleaded, and in April that decrease was 12 cents less than that for 95 ULP.

Assuming a R1.73 per litre petrol price cut, a litre of 95 Unleaded will cost motorists R11.53 at the coast, from May 6, and R12.23 in Gauteng.

Next week's massive cuts are due to continued pressure on international oil prices which far outweighs pressure on the rand versus the dollar.