Motorists across South Africa will pay significantly more to fill their tanks from next week, with petrol prices set to increase by around R1 per litre and diesel by more than R3 per litre.
According to the latest projections from the Central Energy Fund (CEF), unleaded 95 petrol is expected to rise by R1.01 per litre, while unleaded 93 will increase by 90 cents per litre.
Diesel users face even steeper hikes, with 50ppm diesel projected to climb by R3.09 per litre and 500ppm diesel by R2.88 per litre. Paraffin is expected to increase by R2.24 per litre.
The increases, which take effect from midnight on 1 September, will add R45.45 to the cost of filling a 45-litre tank with unleaded 95 petrol. It will cost approximately R247.20 more to fill the 80-litre diesel tank of a double-cab Toyota Hilux or Ford Ranger bakkie.
What’s driving the increases
The sharp rise in fuel prices comes as international oil markets remain volatile due to ongoing conflict in the Middle East. South Africa has become increasingly reliant on refined petroleum imports over the past decade as local refining capacity has declined.
Refined imports are more expensive than locally refined products, and diesel has become particularly costly to produce and import internationally. Global diesel supplies remain under pressure, while tensions around international shipping routes have kept oil prices elevated.
Rand provides limited relief
A relatively stable rand has helped to moderate the increases slightly. The local currency’s performance against the United States dollar reduced the expected petrol price hike by about 18 cents per litre for unleaded 95 and 26 cents per litre for 50ppm diesel.
However, this was not enough to offset the sharp rise in international diesel prices.
Final prices still to be confirmed
The Department of Mineral and Petroleum Resources will announce the final fuel prices before the first Wednesday of September. The increases are expected to take effect on 2 September.
Motorists should note that these projections are based on CEF data and remain subject to change until the official announcement.
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