A steep rise in international petroleum product prices means motorists should brace for noticeably higher fuel costs in October, with the latest data from the Central Energy Fund (CEF) showing significant under-recoveries across all fuel grades.
Renewed tensions in the Middle East and resulting supply disruptions have pushed Brent crude above the $100-a-barrel mark, reaching $102.67 at the time of writing.
While a relatively strong rand has helped cushion the impact, recent weakness against the US dollar is adding to pressure on local fuel prices.
The CEF’s latest daily snapshot, published on September 14, points to petrol price increases of about R2.29/l for 93-octane and R2.41/l for 95-octane.
Diesel users face a substantial increase, with the wholesale price of 500ppm diesel projected to rise by R2.04/l and 50ppm diesel by R2.41/l.
If current projections hold, 95-octane petrol is expected to cost R28.46/l at the coast, compared with the current R26.05/l.
Inland, motorists can expect R29.05/l for 93-octane petrol, up from the current R26.76/l, and R29.33/l for 95-octane petrol, up from R26.92/l.
The wholesale price of 500ppm diesel is expected to reach R31.15/l inland, up from R29.11/l, and R30.28/l at the coast, compared with the current R28.24/l.
Meanwhile, 50ppm diesel is projected to reach R32.46/l inland, up from R30.05/l, and R31.20/l at the coast from R28.79/l.
These projections remain subject to change before month-end as international prices and the rand exchange rate fluctuate. The final adjustment takes effect on October 7. - TimesLIVE