https://www.news24.com/fin24/economy/huge-hikes-in-diesel-petrol-expected-20230816
Large fuel price hikes are expected in September, unaudited data from the Central Energy Fund shows.
The latest data suggests unleaded petrol will climb by almost R1.46 a litre. Diesel is expected to jump by around R2.60 a litre.
This would push fuel prices to the highest level since December last year, the Automobile Association (AA) says.
“These surges in prices will pile pressure on all diesel users, but particularly large users in the agricultural, retail, manufacturing, and retail sectors. Consumers should brace for increases at the till as costs are recovered through higher prices,” the AA warned.
According to current calculations, a litre of 95 unleaded petrol will cost around R24.28/l for fuel – which means it would cost about R1 335 to fill a 55-litre car. Filling the same car at the coast will cost around R1 311, AA said.
Local fuel prices are determined by the oil price and the rand-dollar exchange rate, as oil is priced in dollar. Changes in the oil price and the exchange rate over the rest of the month could still influence price hikes. Fuel prices will be hiked on 6 September.
To save on fuel, keep the tyres of your car properly inflated, the AA suggests. “Avoiding heavy traffic, not overloading the vehicle, and minimising driving are other tips that may help.”
At the start of August, unleaded petrol (both 93 and 95) was hiked by 37c a litre, while diesel increased by 72c a litre.
The latest hikes will bring the price of 95 unleaded petrol to R22.83 a litre in Gauteng, compared to R25.42 a year ago.
The wholesale price of diesel will now be R20.21 a litre, compared to R24.52 in August last year.