Motorists should brace themselves for a hefty fuel price hike in September. Data from the Central Energy Fund is currently pointing to a massive petrol price hike of R1.35 to R1.40 per litre next month. Diesel, on the other hand, has a much bigger hike on the cards of around R2.60 per litre.
The AA said this will only add to the financial worries of already financially-stretched motorists and consumers.
“These surges in prices will pile pressure on all diesel users. But particularly large users in the agricultural, retail, manufacturing, and retail sectors,” said AA in a statement on Wednesday.
“Consumers should brace for increases at the till as costs are recovered through higher prices.”
Local fuel prices are determined by the oil price and also the rand-dollar exchange rate. Changes in the oil price and the exchange rate over the rest of the month could still influence price hikes.
EXPECTED FUEL PRICE HIKE IN SOUTH AFRICA
Petrol 93: increase of 136 cents per litre
Petrol 95: increase of 139 cents per litre
Diesel 0.05%: increase of 260 cents per litre
Diesel 0.005%: increase of 259 cents per litre
Illuminating paraffin: increase of 253 cents per litre
The fuel prices will be hiked on 6 September 2023.