Petrol set to smash R30/litre next week; diesel may also hit record high
South Africa faces record-high fuel prices due to rising global oil costs, a weak rand, and supply chain disruptions caused by international conflicts. Estimates suggest petrol and diesel prices could reach unprecedented levels next week.
Why it matters
Rising fuel costs significantly impact inflation and the cost of living for South African consumers and businesses.
South Africans may face record-high fuel prices next week, with petrol in Gauteng perhaps costing more than R30/litre for the first time.
The latest data from the Central Energy Fund shows a projected increase of R3.29/litre for 95 unleaded petrol and R3.09 for 93 unleaded.
The wholesale price of diesel (0.05% sulphur content) is due for a hike of around R2.80/litre.
While the final hikes, which will take effect next Wednesday, still need to be confirmed, the current estimates mean that Gauteng 95 petrol may increase to a new record of around R30.21. The coastal price may rise to R29.34.
Wholesale diesel (0.05% sulphur content) in Gauteng may reach R31.91, and R31.04 on the coast, also reaching new record-high levels.
South African fuel prices largely depend on global oil prices and the rand-dollar exchange rate, as oil is priced in dollars.
Also covering this story
11 other newsrooms covered this event. We read each version separately.
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