Pertunia Setumo, agricultural economist at FNB Agribusiness, has stated that many South African growers will experience a delayed impact of the current fuel price increases. The reason for this is that many producers who are in the process of harvesting and planting would have already stocked up on fuel for the season.
Effective from Wednesday, 3 June, 93 and 95 octane petrol will increase by R1,18/litre; 0,05% diesel by 22c/litre; 0,005% diesel by 21c/litre and Illuminating paraffin by 40c/litre.
Despite these increases, the price of petrol was still on average R2/litre lower than it was at the beginning of the lockdown period, which took effect in March to slow the spread of the COVID-19 pandemic, according to a statement released by the Department of Mineral Resources and Energy.
Setumo said decreases in fuel prices during the past two months had offered farmers an opportunity to stock up on diesel for the summer crop harvesting season, as well as for the planting of winter crops.
[ R1 = €0.052 ]