Motorists will face fuel price increases ranging from 20c to 65c per litre from Wednesday, driven by rising global oil prices that have offset gains made by a stronger rand over the past month.
Petrol across all grades will see a 20c per litre uptick, while diesel containing 0.05% sulphur will rise by 62c per litre and diesel with 0.005% sulphur by 65c per litre. Paraffin will cost an additional 58c per litre, with gas climbing 26c per kilogram in the Western Cape and 23c per kilogram in the rest of the country.
Following the adjustments, 95 octane petrol will retail at R20.30 per litre in Gauteng and R19.47 per litre at coastal pumps. Wholesale diesel with 0.05% sulphur will stand at R18.54 per litre inland and R17.71 per litre at the coast.
However, the worst may still lie ahead. The data period used to calculate March prices closed on Thursday, meaning the recent surge in oil costs sparked by the Israel-US strikes on Iran — and subsequent Iranian counterattacks on Kuwait, the United Arab Emirates, Israel and other Middle Eastern nations — has not yet been factored in.
South Africans should therefore prepare for further pain at the pumps in April, compounded by the Budget-announced combined 21c per litre increase across the general fuel levy, the carbon fuel levy and the Road Accident Fund levy.
The rand strengthened from an average of R16.31 per dollar in the preceding period to R16 in the month relevant to March pricing, cushioning the blow of higher oil costs by as much as 19c per litre. Despite this, Brent crude surged past $80 per barrel on Monday, well above the February average of $69.08.
