Brace for fuel price hike

Brace for fuel price hike.png

According to the Central Energy Fund (CEF), the under-recovery on petrol indicates an increase in the fuel price, across all options, on Wednesday. 

These increases could be R1.65 for 95 unleaded, R1.60 for 93 unleaded petrol, while diesel may see a hike of between R2.76 (50ppm) and R2.85 (500ppm) per litre.

These figures are not final so they may differ from those that are finally announced to go into effect on Wednesday. This predicted increase does not absorb other factors such as the level of the state levy to compensate fuel companies for oil fluctuations during the month, which could be factored in.

As it stands, if predictions prove accurate, local motorists will be paying R23.76 for a litre of 95 unleaded petrol at the coast and R24.48 inland from September.  The cheaper unleaded 93 octane could rise to about R24.03 per litre.  Diesel increases remain a wild card for the freight industry.

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