South African motorists are facing a potentially expensive December, with significant fuel price increases on the horizon. According to the latest data from the Central Energy Fund (CEF), under-recoveries across all fuel grades are pointing towards a substantial hike at the pumps.
Diesel Users Hit Hardest
While petrol prices are also expected to rise, diesel users are set to bear the brunt of the increase. Current projections indicate a jump of around 69c/l for 0.05% sulphur diesel and a hefty 84c/l for low-sulphur 0.005% diesel. This will significantly impact businesses that rely heavily on diesel for transportation and operations.
Petrol Price Increases Looming
Petrol prices are also on the rise, with 93-octane petrol expected to increase by approximately 19c/l and 95-octane petrol by 23c/l. These increases, while less dramatic than the diesel hike, will still add to the financial burden of South African motorists.
Current Fuel Prices
- 93-octane petrol (inland): R20.97/l
- 95-octane petrol (inland): R21.12/l
- 95-octane petrol (coastal): R20.29/l
- 0.05% sulphur diesel (inland wholesale): R19.13/l
- 0.005% sulphur diesel (inland wholesale): R19.20/l
- 0.05% sulphur diesel (coastal wholesale): R18.30/l
- 0.005% sulphur diesel (coastal wholesale): R18.44/l
What's Driving the Price Hikes?
The CEF attributes these looming price increases primarily to rising international product prices. A slightly stronger Rand has offered only marginal relief. The final fuel prices for December will take effect on Wednesday, December 3rd.
Impact on Consumers
These fuel price increases come at a particularly difficult time, as South Africans prepare for the festive season. Motorists can expect a noticeable increase in their monthly fuel expenses, potentially impacting their holiday budgets. It is essential to budget accordingly and explore fuel-efficient driving habits to mitigate the impact of these price hikes.