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Monday, July 15, 2024

Expect petrol and diesel to rise by more than R3 per litre next month

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The biggest increase in fuel prices in South Africa may be coming this June.

South Africans will have to think twice before hitting the road, with frightening increases in fuel prices expected next month.

The general fuel levy was reduced by R1.50 in April and May, but this will not be repeated in June 2022. This means that motorists will have to pay R1.50 more for fuel, plus the general increase in fuel prices.

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The latest data from the Central Energy Fund indicates a current under-recovery (increase) in fuel, which amounts to a further increase of R1.81 per litre (for 95-octane petrol); R1.75 per litre (for 93-octane petrol); R1.96 per litre (for 0.05% sulfur diesel); R1.93 per litre (for 0.005% sulfur diesel) and a massive R2.46 per litre (for paraffin). And that’s all without the R1.50 levy.

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Based on current data, and when the fuel levy is introduced, petrol is expected to increase between R3.25 and R3.31 per litre, while diesel will increase between R3.43 and R3.46 per litre.

The final price increase will already be introduced at the pumps on Wednesday, 1 June.

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