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Hefty fuel price increases expected in October adjustment

Petrol and diesel prices could soar next week, with increases of up to R3.16 and R3.12 per litre respectively expected.

2 hours ago

Gugu Myeni 1 minute read

MOTORISTS could face steep fuel price increases next week, with petrol expected to increase by up to R3.16 per litre.

Diesel users are also expected to feel the pinch, with hikes of between R2.72 and R3.12 per litre.

This is according to the latest data issued by the Central Energy Fund (CEF).

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It follows last month’s increase of R1.29 per litre for petrol and R2.93 per litre for diesel, while illuminating paraffin was hiked by R2.84 per litre.

“The average international product prices of petrol, diesel and illuminating paraffin increased due to supply shortages caused by the continued Russia/Ukraine conflict and lower global inventories of products,” said Minister of Mineral and Petroleum Resources Gwede Mantashe.

“These factors led to higher contributions to the basic fuel prices of petrol, diesel and illuminating paraffin by 127.79 cents per litre, 321.29 cents per litre and 239.06 cents per litre respectively.

“The prices of propane and butane also increased during the period under review.”

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