Johannesburg – South African motorists could face record fuel prices in October, with preliminary Central Energy Fund (CEF) figures pointing to increases of more than R2 a litre for petrol.
The latest snapshot indicates a possible R2.02 increase for 93 ULP and R2.14 for 95 ULP, while diesel could rise by between R1.71 and R2.05 a litre.
If the increases are confirmed, the price of 95 petrol could reach R28.19 a litre at the coast and R29.06 in Gauteng.
The outlook remains subject to change as international oil prices continue to climb, with Brent crude trading near $110 a barrel after briefly exceeding $100 earlier in the week.
Combined impact
The projected increases come after petrol prices rose by R1.34 a litre in September, while diesel jumped by as much as R3.15.
For motorists, the combined impact could be significant. A 40-litre petrol fill-up would cost about R139 more than before the September increase, based on the projected October hike.
Diesel motorists face an even steeper increase, with a 40-litre tank of 50ppm diesel potentially costing about R208 more.
The rising fuel costs are also putting pressure on public and commercial transport, with taxi associations already implementing fare increases on some routes.
For freight operators, diesel accounts for between 35% and 55% of operating costs, raising concerns that higher fuel prices could eventually feed into transport and consumer costs.
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Compiled by Betha Madhomu
