Relief for SA Motorists as Fuel Price Drop Looms, South Africans Dissatisfied: “Still Won't Make a Difference”

• The Department of Mineral Resources and Energy has announced the new fuel prices for June
• The price of 93 and 95 unleaded petrol is set to decrease by 71c while diesel will drop by at least 80c
• South Africans are dissatisfied with the fuel price decrease, complaining that it isn't significant enough to make a difference

JOHANNESBURG - South African motorists are in for some relief as fuel prices are set to decrease on Wednesday, 7 June.

Petrol prices drop by 71c, diesel to decrease by 80c or 84c

The petrol price for both 93 and 95 unleaded will be cut by 71c per litre while diesel with drop by either 80c or 84c.

The decrease will result in 95 unleaded petrol going from R24.17 from last year's price to R22.63. Wholesale diesel now retails at R19.31, BusinessTech reported.

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The lowering of the food prices comes after the rand took a knock against the US dollar in the aftermath of the accusation that South Africa supplied warring Russia with weapons.

However, since South African fuel prices are determined by international oil costs, which the price set in dollars, the decrease in global Brent crude oil prices played a significant role, News24 reported.

South Africans dissatisfied with looming fuel price decrease

While the decrease is good news for some, many have argued that the price drop will not be significant enough to lessen the stress on cash-strapped wallets.

Below are some comments:

John Kazembe complained:

"They reduce to increase again later..insane!"

Yvonne Taylor claimed:

"R2 or so means nothing; only when it drops by R10+ will we feel the difference."

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@Leephoi questioned:

"Why not R10?"

@dhb1989 demanded:

"Now drop food prices as well."

@Rrasel_ added:

"Still not good enough."

@bonganimalate commented:

"As long as it's still in "cents ", it doesn't make a difference."

SA struggles to cope as inflation drops but food prices hit 14-year high, Economist blames profit maximisation

In another story, Briefly News reported that food prices in South Africa reached an all-time high even though the latest Consumer Price Index (CPI) showed a drop in inflation countrywide.

The CPI decreased to 6.9% in January from 7.2% in December. However, the inflation of food and non-alcoholic beverages soared to a 14-year high when it climbed to 13.4% in January, TimesLIVE reported.

The reason for this disconnect may be more nefarious than South Africans think. Speaking exclusively to Briefly News, economic analyst Professor Bonke Dumisa pointed to multilayer intermediaries as a source of soaring food prices.

Source: Briefly News