South African drivers may soon experience another hike in fuel prices, as the latest data from the Central Energy Fund (CEF) suggests increased costs for petrol, diesel, and illuminating paraffin in September. According to the figures, motorists could see petrol prices rise by approximately 83 cents per litre for 93 octane and 94 cents for 95 octane. Diesel is set to see a more substantial increase, with potential hikes of around R2.87 per litre for 0.05% diesel and R3.07 for 0.005% diesel, while the cost of illuminating paraffin might surge by about R2.24 per litre.
The steep rise in diesel prices is particularly concerning due to its widespread use in sectors like freight, agriculture, construction, and mining, which are crucial to the economy. Such increases could escalate transportation and operational expenses, potentially influencing food and consumer prices upwards. The current outlook marks an improvement from earlier in August when projections indicated a potential petrol increase of around R1 per litre and diesel prices possibly climbing by nearly R5 per litre.
Despite some improvements, fuel costs remain heavily influenced by international oil prices and the exchange rate between the rand and the dollar, both of which are key determinants of South Africa’s monthly fuel-price adjustments. While a relatively stable rand has offered some relief, elevated international petroleum prices continue to drive fuel under-recoveries, maintaining pressure on prices.
The figures released by the CEF are preliminary and subject to change before the final price adjustments are confirmed. The anticipated new fuel prices are expected to come into effect on 1 September 2026, reflecting ongoing volatility in the global energy market.