Fuel Prices Going Up Yet Again in June 2022

Despite the SA Treasury granting an extension of the reduction of the general fuel levy, motorists are still in line for yet another increase in the price of fuel in June 2022.

If you may recall, the petrol levy was cut by R1.50 in April and May, in an effort to try reduce the financial hit of fuel price increases. The good news is this relief will be extended until 6th July, with a downward adjustment to 75 cents a litre from the 7th July until the 2nd August.

Without this reduction, motorists were looking at an increase of almost R4 a litre for the month of June 2022, taking the price of 95 octane unleaded to above R25 a litre. There was hope the price of international oil would stabilise by the end of May 2022, but this has not happened,w ith the current price of brent crude hovering above $120 per barrel, which is the highest it has been in two months. Russia is the world’s third-largest producer of crude and the recent military activity in Ukraine has unsettled things.

So, for the month of June 2022, South African motorists are looking at increases, with petrol going up by R2.33 for 95, R2.34 for 93 and diesel by R1.07 for 0.005% sulphur. Paraffin will go up by R1.56 a litre.

Over the past year, SA motorists have seen the cost of petrol and diesel rise by a third and the knock-on effects are huge. Transportation customers will be increasing costs, which are then in turn passed onto the consumer. Expect the price of food items to go up yet again.