Pump prices may fall in June

2011-05-18 00:00

MOTORISTS are likely to receive minor relief at filling stations next month as the price of both diesel and petrol could decline on June 1, on the back of lower global crude oil prices.

Senior economist and Econometrix director Tony Twine told The Witness that the diesel price could decline by about 40 cents a litre.

Although the petrol price could drop by a mere three to five cents a litre, this would be the first drop in the petrol price since September 2010.

The petrol price rose by 29 cents a litre this month, bringing the price of 95 unleaded petrol on the coast to R9,95 a litre. The wholesale price of diesel is at almost R9,50 a litre.

Twine said the expected fall in the diesel price is related to lower global crude oil prices and the reduction in demand for diesel in the northern hemisphere, which is heading into its summer.

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