October fuel price hike: Here’s what you’re likely to pay for petrol and diesel from Wednesday

Ask AI 2minPetrol and diesel are set for significant increases from October 7.

South African motorists are facing another hefty fuel price increase from Wednesday, with current projections pointing to petrol increases of more than R3 a litre for most fuel grades.

Month-end data from the Central Energy Fund (CEF) points to an increase of around R3.08 a litre for 93 Unleaded and R3.29 for 95 Unleaded, while diesel is projected to rise by between R2.80 for 500ppm and R3.15 for 50ppm.

If the increases are implemented in full, and assuming there is no government intervention, 95 Unleaded could cost around R29.23 a litre at the coast and R30.10 in Gauteng from Wednesday, October 7, while 93 Unleaded could rise to R29.94.

Furthermore, 50ppm diesel could exceed R34 a litre at the coast and R35 inland once retail margins are factored in.

The latest increases come after a sharp escalation in fuel prices since earlier this year. For motorists, the impact is particularly significant because fuel is one of the most immediate and unavoidable household expenses.

A driver covering 1,500km a month in a small car using 5.5 litres per 100km, for example, would face a monthly fuel bill of roughly R2,470 at the projected October price, compared with about R1,666 in March. For a vehicle using 8 litres per 100km, the projected October cost would be around R3,593 for the same distance.

The increases also mean the cost of each kilometre driven continues to climb. A small car consuming 5.5 litres per 100km would move from roughly R1.11 a kilometre in March to around R1.65 at the projected October price.

The prospect of temporary tax relief appears limited. In April, the government reduced the General Fuel Levy by at least R3 a litre for two months, but Mineral and Petroleum Resources Minister Gwede Mantashe said last month that there were no immediate plans for similar relief.

The latest surge has largely been driven by elevated international oil prices, with Middle East tensions and fears of disruption to crude supplies and shipping adding pressure during September. The Strait of Hormuz remains a particular concern for global energy markets.

Unless conditions improve significantly, motorists are therefore heading into October with fuel prices at levels that will put further pressure on household budgets.