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Pump up the pain — July looks set to deliver another big fuel price increase

15 June 2022 - 13:58 By Motoring Reporter
Mid-month data suggests July could see another massive hike in the price of petrol. Stock photo.
Mid-month data suggests July could see another massive hike in the price of petrol. Stock photo.
Image: vladstar/123rf

Tormented SA motorists could face another hefty fuel hike price come month-end.

The latest unaudited data released by the Central Energy Fund shows an under-recovery that would see the price of 95 unleaded rise by around R2 a litre and 93 unleaded by around R1.85 a litre.

At the time of writing, both grades of diesel (50ppm and 500ppm) look set to spike by around R1.30 a litre.

These sharp increases can be attributed to a strong US dollar, weakening rand, bullish global oil prices and the continued conflict in Ukraine. 

The government's temporary reduction in the general fuel levy is also set to be halved on July 6, meaning local motorists will be hit by a further 75c per litre increase no matter what happens on the international front.

The price per litre of 95 unleaded is R24.17 inland and R23.42 at the coast. A litre of 93 unleaded (only available inland) will set you back R23.94.

The wholesale price per litre of 50ppm diesel is R23.22 inland and R22.63 at the coast, and 500ppm diesel is R23.09 inland and R22.47 at the coast. 

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