Fuel prices are having a great start to the month of June – and if things hold out for the next three weeks, motorists could see another big cut next month.
South African motorists have just received some much-needed relief at the pumps with a R1.24 cut to petrol prices this week—and early indications are that another big drop in prices is lining up for July.
Following the elections, markets and investors have been left in limbo, with the ANC government not securing a big enough portion of the national vote to easily secure governance. This has been reflected in the rand’s performance, with the unit moving from pre-election strength—close to R18.00/$—back to staring down R19.00/$.
“Oil prices are priced in US dollars, and the US$ based international commodity’s price fall has meant that the commodity has become cheaper to import, even with sharp rand depreciation this month,” she said.
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