South African motorists could be in for another blow at the pumps, with early data pointing to a sharp fuel price hike in May.
Mid-month projections from the Central Energy Fund (CEF) suggest that fuel prices are continuing on an upward trajectory, with current figures indicating a substantial increase across petrol, diesel and illuminating paraffin.
According to the latest available data, petrol is showing an under-recovery of R2.63 per litre for 95-octane and R2.29 per litre for 93-octane, signalling notable increases if current trends persist.
Diesel prices are under even greater pressure, with under-recoveries of R8.05 per litre for 0.05% sulphur diesel and R8.06 for 0.005%, potentially pushing the wholesale price to around R35 per litre.
Illuminating paraffin is also expected to rise significantly, with projections indicating an increase of R6.52 per litre.
The upward pressure on fuel prices is largely being driven by ongoing global market volatility, particularly linked to the conflict in the Middle East, which continues to impact oil supply and pricing. South Africa depends heavily on imports, with 60% to 70% of the country’s refined fuel comes from Gulf nations like Saudi Arabia, Oman, Kuwait and the UAE.
While the figures remain provisional and subject to change before the official adjustment, the outlook suggests that motorists and households may need to brace for another costly month ahead.
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