Motorists set to face petrol and diesel hikes in September
Mid-month data points to higher fuel prices next month as global oil costs rise, with diesel set for the sharpest jump.
South African motorists are likely to pay more at the pumps from early September, according to the latest mid-month figures from the Central Energy Fund (CEF).
Petrol has moved into under-recovery territory, while diesel faces significantly larger increases. If current trends hold, the expected changes for September are:
Read more: Fuel price changes from August 5
- 93-octane petrol: possible increase of about 66 cents a litre,
- 95-octane petrol: possible increase of about 77 cents a litre,
- Diesel 0.05% sulphur: possible increase of about R2.73 a litre,
- Diesel 0.005% sulphur: possible increase of about R2.90 a litre, and
- Illuminating paraffin: possible increase of about R2.14 a litre.
These projections are based on CEF tracking data roughly halfway through the pricing period. The final adjustments will depend on oil prices and the rand/dollar exchange rate for the remainder of the month.
The official announcement is expected towards the end of August, with new prices taking effect on the first Wednesday of September (September 2).
Current inland retail prices (effective from August 5) stand at approximately R25.42 a litre for 93-octane petrol and R25.58 a litre for 95-octane petrol. Wholesale diesel prices are around R26.17 a litre (0.05% sulphur). Coastal prices remain lower.
The upward pressure stems mainly from higher international crude oil prices, which have climbed amid ongoing tensions in the Middle East. Brent crude has been trading near $90–$92 a barrel. A relatively stable rand (around R16.20–R16.30 to the dollar) has only partly offset the oil price rise.
Motorists and businesses should note that these are provisional figures only. Final pump prices will be confirmed by the department of mineral and petroleum resources once the full review period ends. Diesel prices at the pump are not regulated and can vary by retailer.
Also read: Slight increase in fuel price a possibility
The official announcement of the final adjustments is expected from the department of mineral and petroleum resources in the last few days of August (typically between about August 28 or 31).
Fuel price changes continue to affect transport costs, food prices, and household budgets across South Africa.
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