Motorists should prepare themselves for a helse fuel hike next month.
According to the latest snapshot from the Central Energy Fund on Wednesday, 95 Unleaded petrol is looking set to increase by R1.60 per litre, while diesel is in the red to the tune of around R2.75.
Should the above predictions hold, South African motorists will end up paying around R23.70 for a litre of 95 Unleaded at the coast and R24.43 in the inland regions such as Gauteng, where 93 ULP would rise to around R24.03, reports IOL.
The wholesale price of 50ppm diesel, meanwhile, is likely to rise to around R22.57 at the coast and R23.28 inland, which is still somewhat below the 2022 record of R25.75.
The above predictions are based on unaudited data and the outlook could change between now and month-end.
The official petrol and diesel prices for next month are expected to be announced by the Department of Minerals and Energy Resources on September 4, with the actual adjustments taking place on September 6.
The Automobile Association (AA) warns that the huge diesel price increase will eventually lead to higher grocery bills, among other things.
“These surges in prices will pile pressure on all diesel users, but particularly large users in the agricultural, retail, manufacturing, and retail sectors,” the AA said.
“Consumers should brace for increases at the till as costs are recovered through higher prices.”
The forecast increases come as a result of a weaker South African rand and higher international oil prices.