September fuel price increases: What South African drivers need to know

South African drivers are bracing for significant fuel price hikes in September, as international oil prices remain high due to tensions in the Middle East. The Central Energy Fund forecasts petrol prices to rise by around 80 cents on 93 Unleaded and 90 cents on 95 Unleaded. Diesel prices, however, could surge more dramatically, with potential increases of R2.85 for 500ppm and R3.05 for 50ppm – with room for further hikes if the trend continues.

Drivers recall a volatile few months, with 95 Unleaded prices jumping from R19.47 in March to a peak of R27.19 in June, and diesel prices rising from R17.70 in March to R25.30 in August, peaking at R30.30 in May. Despite a 52-cent drop in petrol prices at the start of August, diesel prices rose between R1.23 and R1.38 per litre.

Ole Hvalbye, a commodities analyst at SEB, said, "A return to normal flows out of the Strait of Hormuz is now suddenly without any near-term hopes." However, analysts predict a gradual reduction in international oil prices. JP Morgan forecasts Brent crude oil to average around $86 in the third quarter of this year, dropping to $80 in the fourth quarter and $78 in 2027.