Motorists could face significant fuel price increases in April, as mid-month data from the Central Energy Fund (CEF) indicates sharp hikes for both petrol and diesel, alongside upcoming tax increases.

According to the CEF’s mid-March figures, fuel prices are showing substantial under-recoveries, largely driven by the ongoing conflict in the Middle East.

Petrol is currently showing an under-recovery of between 387 and 427 cents per litre, while diesel has exceeded the R7 per litre mark, with an under-recovery ranging from 704 to 715 cents per litre.

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If these trends continue into April, the price of Petrol 95 (inland) could rise to about R24.57 per litre – levels last seen in March and April 2024.

The highest price ever recorded for Petrol 95 was R26.74 per litre in July 2022, during the period when Russia invaded Ukraine. That spike followed global market disruptions caused by the COVID-19 pandemic and lockdowns.

Based on the mid-month projections, the expected increases are:

• Petrol 93: up by 387 cents per litre
• Petrol 95: up by 427 cents per litre
• Diesel 0.05% (wholesale): up by 704 cents per litre
• Diesel 0.005% (wholesale): up by 715 cents per litre
• Illuminating paraffin: up by 899 cents per litre.

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