September fuel price hikes on the cards for South Africa
South African motorists face another painful fuel-price shock in September, with steep diesel increases and petrol hikes of up to 90 cents a litre looming.
South Africa's fuel prices are anticipated to increase again in September, despite ongoing efforts for Middle East peace. The Central Energy Fund predicts diesel prices to rise by approximately R2.73 for 500ppm and R2.90 for 50ppm, while petrol prices will see under-recoveries of 66 cents for 93 Unleaded and 77 cents for 95 Unleaded.
Paraffin is expected to also see a hike, around R2.14. Since March, 95 Unleaded has risen from R19.47 to R24.71, peaking at R27.19 in June, and diesel has increased from R17.70 to R25.30, peaking at R30.30 in May. In contrast, both grades of petrol decreased by 52 cents per litre at the start of August before rising again. International oil markets have experienced significant volatility due to the US-Israeli conflict with Iran in late February, with the Strait of Hormuz mostly closed to shipping.
While crude oil prices have settled around $90 per barrel in August, they are still far above pre-war levels of $70. Experts predict a gradual decline in international oil prices, with JP Morgan forecasting Brent crude to average $86 in the third quarter, falling to $80 in the fourth quarter and $78 in 2027.
Written by urgent.news from IOL's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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