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Thursday, July 25, 2024

June fuel prices increase to be bigger than expected

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June fuel prices will increase sharply contrary to mid-month estimates which suggested a 50c increase for petrol and 50c decrease for diesel according to data from the Central Energy Fund.

Diesel prices were expected to drop by 50c but customers are now looking at a price increase of around 15 cents.

The data also suggested a petrol price increase of around 50 cents a litre, but now motorists can expect a price rise in the region of R1.15 if current trends persist until the end of this week.

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June fuel price hikes, however, won’t be big enough to cancel out the previous drops which brought much-needed relief in previous months.

The price hikes have been fueled by international oil prices that have continued to trade at higher levels than the previous months, although the stronger rand has helped to slightly soften the blow.

It must be noted though that while oil prices traded higher, they still remain below historical levels due to the slowing down of economies due to the COVID-19 pandemic.

Here’s what it will cost to fill up your tank in Coastal Regions

Trucks
Average capacity: 600 litres
Cost for a full tank of diesel: R6 348

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Cars and Bakkies
Average capacity: 45 litres
Cost for a full tank of petrol: R572.40
Cost for a full tank of diesel: R476.10

Minibuses / Taxis
Average capacity: 75 litres
Cost for a full tank of petrol: R954
Cost for a full tank of diesel: R793.50

Motorcycles
Average capacity: 20 litres
Cost for a full tank of petrol: R254.40
Cost for a full tank of diesel: R211.60

Here’s what it will cost to fill up your tank inland

Trucks
Average capacity: 600 litres
Cost for a full tank of diesel: R6 708

Cars and Bakkies
Average capacity: 45 litres
Cost for a full tank of petrol: R606.60
Cost for a full tank of diesel: R503.10

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Minibuses / Taxis
Average capacity: 75 litres
Cost for a full tank of petrol: R1 006.50
Cost for a full tank of diesel: R838.50

Motorcycles
Average capacity: 20 litres
Cost for a full tank of petrol: R268.40
Cost for a full tank of diesel: R223.60

These are estimated figures based on the latest forecasts from Global Oil and The Central Energy Fund. They may still fluctuate between now and the first week of June.

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