South Africans are in for another fuel price hike early October, prompting a steep staple food price increase. The hike involves paraffin, gas, petrol and diesel.
The latest data from the Central Energy Fund (CEF) indicates that diesel prices may increase by around R2 a litre. The price of unleaded petrol, 95 and 93, could increase by R1,23 a litre and R1,15, respectively.
On 5 September the diesel price increased by R2,76; the price of paraffin went up by R2,78; unleaded petrol’s price went up by R1,71; while the price of gas increased by R2,26.
The CEF’s data shows that in the case of petrol, up to 80% of the increase can be attributed to higher oil prices, while these prices are responsible for up to 86% of the expected climb when it comes to the price of diesel, according to the Automobile Association (AA).
The body stated the expected increase would push fuel prices to levels last seen in July 2022.
