Cape Town – South African motorists could face another steep fuel price increase in October, with the latest Central Energy Fund (CEF) data pointing to increases of more than R2 a litre for both petrol and diesel.
The estimates suggest that 95 petrol could increase by about R2.78 a litre, pushing the inland price close to R29.70, while diesel could rise by as much as R3 a litre.
Mid-month CEF figures showed under-recoveries of R2.29 a litre for 93 petrol and R2.41 a litre for 95 petrol.
However, the projections are not final. Fuel prices are adjusted monthly based on factors including international petroleum prices and the rand-dollar exchange rate. The Department of Mineral and Petroleum Resources says local and international factors are taken into account when determining monthly fuel prices.
Global fuel markets have also come under pressure, with Reuters reporting that international diesel prices have reached record levels as conflicts involving Iran and Ukraine disrupt supplies from major producers and refineries.
Although oil prices have eased in recent days, uncertainty remains. Brent crude fell to $100.34 a barrel on 20 September amid hopes of renewed US-Iran diplomacy and recovering Saudi exports.
The final October fuel prices are expected to be announced after the monthly pricing period ends.
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Compiled by Betha Madhomu
