The last few days of June are showing a strong over-recovery in fuel prices of around R1.00 per litre, meaning a price cut is all but guaranteed for July.
The rand/dollar exchange rate is largely flat, contributing only 1 cent per litre to an under-recovery. Bloomberg said that in addition to the higher prices, markets are anticipating a tighter supply in the months ahead, warning that global markets are set for a supply deficit in the coming quarter.
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