October fuel price hike: Here's what you're likely to pay for petrol and diesel from Wednesday

South African drivers will see fuel prices rise again starting October 7, with petrol and diesel costs set to climb by more than R3 per litre. According to the Central Energy Fund, 93 Unleaded could cost around R29.94 a litre coast and R30.10 in Gauteng, while 95 Unleaded may reach R29.23 at the coast and R30.10 in Gauteng. Diesel prices are expected to increase between R2.80 for 500ppm and R3.15 for 50ppm, potentially surpassing R34 a litre inland and R35 at the coast.

The price hikes come after a significant jump in fuel costs since early this year. For a driver averaging 1,500km a month in a small car using 5.5 litres per 100km, monthly fuel expenses could surge from about R1,666 in March to roughly R2,470 in October. A vehicle consuming 8 litres per 100km would see its fuel bill jump from approximately R3,593 in October compared to March.

These increases mean each kilometre driven becomes more expensive. A small car using 5.5 litres per 100km would see its fuel cost rise from roughly R1.11 per km in March to around R1.65 at October's projected price. The government has not indicated any immediate plans for tax relief, despite reducing the General Fuel Levy by at least R3 a litre in April.

The primary driver of these price increases is the surge in international oil prices, fueled by Middle East tensions and fears of supply disruptions in September. The Strait of Hormuz remains a significant concern for global energy markets. Unless conditions improve, motorists face fuel prices that will likely continue to strain household budgets in October.