Petrol and diesel price hike coming next week 

The Central Energy Fund’s latest data indicates that petrol and diesel prices are expected to increase next month in South Africa. Motorists may face a 20-25 cents per litre price hike for petrol and an almost 60 cents per litre hike for diesel.  

Despite a stronger rand contributing to an over-recovery of 19 cents per litre, rising global oil prices, driven by higher demand and reduced supplies from China and OPEC+, are leading to a 37 cents to 77 cents per litre under-recovery in prices.  

The rand’s potential depreciation, along with increasing global oil prices, could result in higher fuel prices at the pumps in the coming days. Fuel prices are set to be adjusted on August 2nd, 2023. 

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