Cape Town – South African motorists face renewed fuel price volatility as the Middle East war continues to disrupt global oil markets.
The Central Energy Fund indicates petrol prices could see only marginal decreases of about five cents in August, despite earlier forecasts of 21–26 cent reductions. Diesel customers are expected to bear the brunt, with increases of between R1.30 and R1.80 per litre depending on oil price movements.
The Slate Levy, currently set at R1.14 per litre, remains a potential factor that could ease petrol costs if reduced. However, analysts caution that oil price volatility makes significant relief unlikely.
At present, a litre of 95 Unleaded petrol costs R25.23 at the coast and R26.11 in Gauteng, while 93 Unleaded retails for R25.94. Diesel prices range from R23.91 to R25.16 depending on grade and location. This follows sharp reductions earlier in July, when petrol fell by R2.01 per litre and diesel by up to R3.58.
International oil markets remain highly unstable. Prices swung from $72 per barrel at the start of the month to above $100 amid US–Iran clashes, before retreating to around $88 on renewed truce hopes.
The most likely outcome for August is stable petrol prices near current levels, while diesel costs rise by more than R1 per litre.
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Compiled by Betha Madhomu
