South African motorists face another sharp rise in petrol and diesel prices as the Middle East conflict pushes global oil prices higher.
South Africans are staring down the barrel of record petrol and diesel prices in October as the conflict in the Middle East has put oil markets on edge, with Brent crude having traded close to the $110 per barrel mark on Friday after breaching the $100 barrier earlier in the week.
The latest data from the Central Energy Fund indicates potential increases of R2.02 for 93 Unleaded petrol and R2.14 for 95 Unleaded, while diesel is looking set for hikes of between R1.71 for 500ppm and R2.05 for 50ppm.
What’s more, recent oil price movements mean these predictions are moving targets, with the outlook likely to get significantly worse by the time October’s fuel price calculations are finalised later this month.
But as it stands, South Africans can expect to pay a record R28.19 for a litre of 95 ULP at the coast and R29.06 in Gauteng. Diesel, with 50ppm expected to wholesale at R31.60 in Gauteng, would surpass its previous all-time peak of R31.38 in May. These remain early-month estimates and could change significantly before the final adjustment is announced.
