As has been the trend for much of June, fuel recoveries have been in motorists’ favour, with both petrol and diesel showing over-recoveries for the month.The average Brent Crude oil price decreased from 82.98 US Dollars to 82.24 USD per barrel, during the period under review. The main contributing factors are the increased production by the US and other non-OPEC countries amid slow economic growth globally.
The Rand appreciated slightly, on average, against the US Dollar during the period under review when compared to the previous one. This led to lower contributions to the Basic Fuel Prices of all products by about 1.50 cents per litre on all products.
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