August fuel price: here's what you're likely to pay for petrol and diesel from Wednesday
Those with petrol-powered vehicles can look forward to some relief at the pumps from Wednesday, August 6, but diesel is looking set to increase by a significant margin.
Month-end data from the Central Energy Fund (CEF) is pointing to petrol price decreases of 29 cents for 95 Unleaded and 33 cents for 93 Unleaded, while diesel prices are expected to rise by between 63 cents (50ppm) and 66 cents (500ppm). This follows July's petrol and diesel price increases of up to 55 cents and 84 cents, respectively.
In the case of petrol, 95 Unleaded should recede to around R20.79 at the coast and R21.58 in Gauteng, where the slightly less expensive 93 ULP is expected to retail for R21.46. The wholesale price of 50ppm diesel is predicted to reach R19.28 at the coast and R20.04 inland.
These predictions are, however, based on unaudited data from the CEF. The final and official fuel price adjustments will be announced by the Department of Mineral Resources and Energy early this week.
What's driving fuel prices this month?
International product price movements are the driving force behind the August price adjustments, while a slightly stronger South African rand provided relief to the tune of around five cents.
It's not unusual for diesel prices to rise during the winter and summer months, due to international demand patterns. In the northern hemisphere's summer, for instance, increased travel and economic activity can drive up prices.
However, the main reason for the mid-2025 surge in diesel prices is due to the European Union's restrictions on Russian fuel, Total Energy CEO Patrick Pouyanne told Bloomberg.
'We think that stronger diesel prices will become a persistent feature on the global market,' he said. 'The sources of diesel are now coming from the Middle East or from US refineries further away, so it has increased the cost,' Pouyanne said.
Following the August price adjustment, 50ppm diesel will be around 60 cents more expensive than it was at the beginning of this year.
95 Unleaded petrol, on the other hand, will be priced almost identically to its January 2025 level of R20.80.
Both petrol and diesel have seen two increases and four decreases this year.
IOL Motoring
ALSO READ: How South Africa's fuel taxes affect daily life
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