Fuel Price Increase for Petrol on the Horizon for South African Motorists

Just when South African motorists thought they could catch a break in April, it appears the reprieve will be short-lived due to a surge in global oil prices. The most recent data from the Central Energy Fund (CEF) suggests that prices for 93 and 95 unleaded petrol are on the rise, with increments of 32 and 34 cents per litre, respectively. This trend hints at a possible further increase of up to 40 cents per litre by the end of the month, contingent on the continuation of current market trends.

Conversely, drivers who favour diesel can breathe a sigh of relief, at least for the moment, as projections indicate a reduction in diesel prices ranging from 28 to 33 cents per litre. This anticipated decrease in diesel costs is heralded as a boon for the broader South African economy, particularly within sectors heavily reliant on diesel for their operations.

“Diesel is a big input cost in major sectors such as agriculture, mining, manufacturing, and retailing, and an increase here often contributes to increased prices of basic commodities,”

highlighted the Automobile Association (AA).

As the nation braces for the colder months ahead, the potential for further hikes in fuel prices looms large. Eugene Herbert, CEO of MasterDrive, emphasizes the importance of adopting strategies to extend fuel economy in anticipation of these increases.

At present, petrol prices stand at R23.73 per litre along the coast and R24.45 per litre inland for 95 unleaded, with 93 unleaded petrol priced at R24.13 per litre. Diesel, on the other hand, currently trades at R21.19 per litre on the coast and R22.61 per litre inland.

The Department of Energy is set to officially announce South Africa’s fuel prices for the upcoming month early next week, with the new rates taking effect on Wednesday, April 3.

Here’s a table summarizing the anticipated changes in fuel prices for South Africa as per the latest data:

What Lies Ahead for Motorists?

As South Africans await the official announcement of April’s fuel prices, questions arise about the broader implications of these fluctuations. How will the expected increases in petrol prices impact the cost of living and the economy at large? And what measures can individuals and businesses take to mitigate the effects of rising fuel costs? These concerns underscore the complex interplay between global oil prices, local fuel rates, and the overall economic health of the nation.