South Africans should prepare themselves for a slight uptick in petrol prices come April 2024, according to unaudited data released by the Central Energy Fund (CEF). However, there’s some relief in sight as the Automobile Association (AA) highlights a potential decrease in diesel prices and illuminating paraffin.
Despite a rocky start to the year for fuel prices, any reprieve for consumers is welcomed, especially with the approaching Easter holidays, noted the AA.
Based on the latest data from the CEF, ULP95 is poised to see a modest increase of around 10c per litre, with ULP93 following closely at approximately 9c per litre. On the other hand, the wholesale price of diesel is expected to dip between 34c and 38c per litre, while illuminating paraffin costs are projected to drop by roughly 47c per litre.
“The decrease in diesel and paraffin prices is certainly good news; diesel is a big input cost in major sectors such as agriculture, mining, manufacturing, and retailing, and an increase here often contributes to increased prices of basic commodities,” commented the AA.
The Association further highlighted that if the current downward trend in the Rand/US Dollar exchange rate and international product prices persisted, there’s a likelihood that the Department of Mineral Resources and Energy (DMRE) might announce a much-needed price decrease next month.
Considering these potential changes, the AA advised South African motorists to budget efficiently for their Easter holiday trips and ensure their vehicles are well-maintained.
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