Earlier this month it was reported that early monthly data was pointing to huge fuel price increases for September 2023, affecting both petrol and diesel. Unfortunately, the outlook has since deteriorated even further.

According to the latest daily snapshot from the Central Energy Fund, 95 unleaded petrol is looking set to increase by R1.60 per litre, while diesel will be in the red to the tune of around R2.75. Should these predictions hold true, motorists will end up paying around R23.70 for a litre of 95 Unleaded at the coast and R24.43 in the inland regions such as Gauteng, where 93 ULP would rise to around R24.03. The last time petrol was that expensive was in June 2022. The wholesale price of 50ppm diesel, meanwhile, is likely to rise to around R22.57 at the coast and R23.28 inland, which is still somewhat below the 2022 record of R25.75. The official petrol and diesel prices for September 2023 will be announced on 4 September, with the actual adjustments taking place on 6 September. The Automobile Association commented as follows: “These surges in prices will pile pressure on all diesel users, but particularly large users in the agricultural, retail, manufacturing, and retail sectors. Consumers should brace for increases at the till as costs are recovered through higher prices.”

Read the full original of the report in the above regard by Jason Woosey at IOL

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