Fasten your seatbelts, another petrol price increase is coming our way

Motorists will have to budget even more when it comes to fuel as there’s another increase set for the end of October, says the AA, Polokwane Review reports.

This is based on unaudited mid-month fuel price data released by the Central Energy Fund.

The AA says that the increase to come will hit diesel users harder with diesel increasing by 70 cents. Petrol prices are currently set for a 40 cents-a-litre increase, while illuminating paraffin could spike by 65 cents.

The latest increase comes after the Department of Energy’s (DoE) proposal to set a maximum price for the sale of 93 octane ULP and LRP fuels.

“Should this happen, it will allow fuel retailers to set their own prices below the maximum amount indicated by the government, and may, depending on the margins, ease the burden on users of the two identified fuels,” the AA explained.