Johannesburg – South African motorists are bracing for steep fuel price increases set to take effect next week, with early projections pointing to one of the most significant hikes in recent years.
Fuel prices in the country are adjusted on the first Wednesday of each month and are regulated by the Central Energy Fund.
According to the latest data from the fund, petrol prices are expected to increase by between R5.17 and R5.72 per litre, depending on the grade. This would translate to an additional cost of roughly R300 to fill a standard 60-litre tank.
The outlook is even more severe for diesel. Current under-recovery levels driven by global oil prices and the rand’s performance against major currencies indicate potential increases exceeding R9.50 per litre.
Unlike petrol, diesel prices are not regulated in South Africa, and some retailers have already begun adjusting their prices in anticipation of the hike.
Economists warn that the sharp increases could have widespread inflationary effects, as higher fuel costs are likely to drive up transport expenses and, in turn, the price of goods and services.
If confirmed, the increases would rank among the steepest fuel price adjustments experienced in the country, placing additional strain on consumers and businesses alike.