Good news for fuel prices in July

The Automobile Association (AA) anticipates significant fuel price decreases in July, based on unaudited data from the Central Energy Fund.

AA spokesperson Eleanor Mavimbela stated that motorists could pay about R1 per litre less for unleaded 93 and 95, while diesel and paraffin prices might drop by approximately 30 cents per litre and 25 cents per litre, respectively.

“A second consecutive drop in fuel prices is good news for consumers, motorists, and the economy. Lower fuel prices will especially benefit South Africans with vehicles who will save a little on their monthly transport budgets. Consumers generally will also benefit as input costs won’t be negatively impacted and prices at the till are, therefore, unlikely to increase,” she added.

Mavimbela said that despite the anticipated fuel price reductions, the AA remains concerned about the impact of soaring prices on already struggling consumers.

“Although we are expecting fuel to be cheaper in July, we remain concerned about the overall soaring prices which impact all consumers. A sustainable solution to mitigating rising fuel costs is still necessary and until that solution is found, citizens will be at the mercy of fuel price hikes,” she said.

As the country awaits finalisation of the new Cabinet, “we implore the new administration to prioritise finding sustainable solutions to rising fuel costs by conducting a long overdue and transparent review of the fuel pricing structure,” Mavimbela said.