Petrol price drop won’t see much celebrating

South African consumers will experience their first price drop at the pumps in six months as the price of fuel decreases by nearly a rand today.

Petrol 95 will fall by 95 cents a litre and 93 octane by 96 cents, while diesel (0.05% sulphur) will decrease by 74 cents and diesel (0.005% sulphur) by 75 c/l.

However, analysts are pointing out that consumers will have little to celebrate as electricity tariffs hikes kicked in on 1 July.

Despite the fact that the average car will cos R30 to R40 less to fill, consumers are unlikely to achieve much relief.

• Bus and taxi fares are unlikely to go down
• Electricity tariffs are increasing
• The petrol price decrease only accounts for about R2.50 for every R1 000 people have