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Johannesburg - Petrol, diesel and paraffin will probably cost less
next month, according to Econometrix senior economist Tony Twine on Thursday.
The Energy Department will announce the fuel prices that will apply in June on Friday.
"I expect the price of petrol to come down by 27 cents a litre (c/l) in June," said Twine.
The price of all grades of petrol went up by 14 c/litre this month.
Twine also expects the prices of diesel and paraffin to also come down. "We see the prices of diesel and paraffin both coming down by 13.5 c/l," he said.
All grades of diesel increased by 29.5c/litre in May while paraffin prices also saw increases of between 30 and 41 cents a litre this month.
The May increases were mainly on the back of factors such as pipeline transport tariff increases and higher Brent crude oil prices.
Twine based his forecasts on some of these factors. "The main driver for the decreases we are expecting is the softer Brent crude oil prices that we saw during the month of May," he said.
"But this has been offset by a weaker rand. Had the rand been stronger I guess we could've had an additional 10c/l less on each fuel," added Twine.
- I-Net Bridge
The Energy Department will announce the fuel prices that will apply in June on Friday.
"I expect the price of petrol to come down by 27 cents a litre (c/l) in June," said Twine.
The price of all grades of petrol went up by 14 c/litre this month.
Twine also expects the prices of diesel and paraffin to also come down. "We see the prices of diesel and paraffin both coming down by 13.5 c/l," he said.
All grades of diesel increased by 29.5c/litre in May while paraffin prices also saw increases of between 30 and 41 cents a litre this month.
The May increases were mainly on the back of factors such as pipeline transport tariff increases and higher Brent crude oil prices.
Twine based his forecasts on some of these factors. "The main driver for the decreases we are expecting is the softer Brent crude oil prices that we saw during the month of May," he said.
"But this has been offset by a weaker rand. Had the rand been stronger I guess we could've had an additional 10c/l less on each fuel," added Twine.
- I-Net Bridge
