South African fuel prices set to rise sharply in September
Motorists in South Africa are bracing for significant fuel price increases in September, driven by elevated international oil prices amid ongoing geopolitical tensions.
South African motorists will face significant fuel price hikes in September due to high international oil prices caused by conflicts in the Middle East. According to the Central Energy Fund, petrol prices are expected to increase by 80 cents for 93 Unleaded and 90 cents for 95 Unleaded. Diesel prices could also rise by around R2.85 for 500ppm and R3.05 for 50ppm, with potential further increases if trends continue.
Paraffin will see a rise of approximately R2.23. Over the past few months, petrol prices have skyrocketed from R19.47 to R24.71 for 95 Unleaded between March and August, and diesel has surged from R17.70 to R25.30 in the same period, reaching R30.30 in May. After a brief dip in August, petrol prices dropped by 52 cents per litre, while diesel increased by between R1.23 and R1.38 per litre.
Although international oil markets have stabilized with Brent crude oil trading around $90 per barrel in August, prices are still considerably higher than pre-war levels of $70. Experts predict a gradual decline in oil prices, with JP Morgan projecting an average of $86 for Brent in the third quarter, dropping to $80 in the fourth quarter and $78 in 2027.
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