Here's how much more you'll pay for a tank of fuel from Wednesday
Wednesday’s fuel hikes will hit motorists hard, with petrol rising R1.34 a litre and diesel climbing by up to R3.15 as renewed Middle East tensions drive oil prices higher.
South African motorists are facing significant fuel price hikes as of Wednesday, exacerbated by the ongoing Middle East conflict driving up oil costs. On September 2, the Department of Mineral and Petroleum Resources announced a R2.94 per litre increase for 500ppm diesel and a R3.15 hike for 50ppm diesel. Petrol prices will see a R1.34 per litre rise for both grades.
In Gauteng, 93 unleaded petrol will cost R26.76 per litre and 95 unleaded will be R26.92 per litre. Coastal areas will see 93 unleaded at R26.05 per litre. For those with larger tanks, an extra R205 will be needed for 70 litres of 500ppm diesel or R220 for the cleaner 50ppm diesel.
Petrol-powered cars will pay an additional R40 for a 30-litre refuel and R53.60 for a 40-litre tank. SUVs and larger cars will incur a premium of R67 to R80 for a 50 or 60-litre refuel. While September's increases bring fuel prices close to recent peaks, 95 petrol remains below its June high of R27.19 at the coast, and diesel is still below its May high of R30.30.
Oil prices have spiked this month, with Brent crude trading around $91 per barrel and US WTI above $86 per barrel, both up over 2% from Monday's figures. The next month's outlook will depend on the escalation of tensions or diplomatic efforts to resolve the conflict. Prolonged disruptions to shipping through the Strait of Hormuz could drive crude prices even higher, possibly reaching $100 a barrel, while a return to normal shipping could ease the current supply-risk premium.
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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