With rising tensions in the Middle East, South Africa's fuel prices are poised for significant increases in September.
Steep fuel price increases are forecast for September, largely as a result of international oil prices remaining elevated due to the ongoing conflict in the Middle East.
The latest daily snapshot from the Central Energy Fund is pointing to petrol price increases in the region of 90 cents for 93 Unleaded and R1.01 cents for 95 Unleaded. However, with the latest daily data being even further in the red, that over-recovery could grow further by month-end.
Diesel prices are heading back in the direction of a full-blown crisis, with the CEF data indicating potential price hikes of around R2.88 for 500ppm and R3.09 for 50ppm.
Illuminating paraffin is looking set for an increase in the region of R2.23.
