South African drivers may soon be dealing with yet another fuel price hike as the latest figures from the Central Energy Fund suggest increases across the board for petrol, diesel, and illuminating paraffin. Projections indicate petrol prices could climb by approximately 83 cents per litre for 93 petrol and 94 cents for 95 petrol. Diesel prices are expected to see a more substantial jump, with a potential rise of R2.87 per litre for 0.05% diesel and R3.07 for 0.005% diesel. Illuminating paraffin is also set to become more expensive, potentially increasing by around R2.24 per litre.
The anticipated rise in diesel costs is particularly concerning given its extensive use in industries such as freight, agriculture, construction, and mining. A significant increase in diesel prices has the potential to elevate transportation and operational costs, which could, in turn, exert upward pressure on food and consumer prices, affecting the broader economy.
The situation has somewhat improved compared to earlier forecasts in August, which had predicted petrol prices might rise by as much as R1 per litre and diesel by nearly R5 per litre. However, the current data still suggests that fuel prices remain under considerable upward pressure.
Factors like international oil prices and the rand-dollar exchange rate continue to play crucial roles in determining South Africa’s monthly fuel-price adjustments. While a relatively stable rand has provided some relief, the persistent increase in international petroleum prices continues to contribute to fuel under-recoveries, keeping costs high.
It’s important to note that the figures provided by the Central Energy Fund are indicative and may change before the final price adjustments are announced. If the current predictions hold, the new fuel prices are set to be implemented starting 1 September 2026.