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Motorists could be in line for far less relief at the petrol pumps next month than previously expected, while diesel users face the prospect of hefty price increases as higher global oil prices begin filtering through to local fuel costs.The latest daily snapshot from the Central Energy Fund (CEF) shows 93 octane petrol is now expected to decrease by 19c/l in August, while 95 octane is projected to fall by 14c/l.The outlook for diesel has deteriorated sharply, however, with the wholesale price of 50ppm diesel now forecast to increase by R1.42/l and 500ppm diesel by R1.60/l.The latest projections reflect a dramatic turnaround from the situation in the middle of July, when the CEF was pointing to fuel price cuts across the board. At the time, 93 octane petrol was forecast to decrease by R1.30/l and 95 octane by R1.26/l, while wholesale diesel prices were expected to fall by 74c/l for 50ppm and 47c/l for 500ppm.The shift follows a rebound in global oil prices as renewed tensions in the Middle East have raised concerns about crude supplies. Brent crude is now trading at about $81.54 a barrel after dipping below $75 earlier this month.As always, the projections are provisional and could change before month end as the CEF continues to track movements in the international oil price and the rand-dollar exchange rate.The department of mineral and petroleum resources is expected to announce the official August fuel price adjustments at the end of the month, with the new prices taking effect on Wednesday August 5.TimesLIVE
