South African motorists are expected to face another increase in fuel prices in June, although petrol users may see a smaller adjustment compared to diesel consumers.
According to the latest data from the Central Energy Fund, diesel prices are projected to rise by approximately R4.41 and R3.52 per litre, depending on the grade.
Wholesale illuminating paraffin is also expected to increase sharply, with an under-recovery of about R4.37 per litre.
Petrol price hikes are forecast to be less severe, with 95 octane expected to rise by around 18 cents per litre and 93 octane by about 13 cents per litre.
Audit Director at BDO South Africa, Palesa Ngomeza, says ongoing geopolitical tensions between the United States and Iran have been a major driver behind elevated global oil prices.
Ngomeza says the weaker rand against the US dollar has further pushed up the cost of importing fuel, while the phased withdrawal of the general fuel levy relief has also contributed to the anticipated increases in local fuel prices.