South Africans preparing for the festive season may need to temper their holiday cheer, with early indicators pointing to a massive fuel price hike in December.
While December is usually a time of giving, travel and celebration, motorists will soon be forced to dig deeper into their pockets as petrol and diesel prices appear set to rise once again – putting additional pressure on already strained household budgets.
Weaker rand
Industry analysts warn that a combination of volatile global oil prices, a weaker rand, and international supply constraints may push fuel costs upward just as millions take to the roads for year-end holidays.
Diesel car owners are in for a far worse festive season than petrol vehicle motorists.
The projections come from the Central Energy Fund (CEF), which tracks daily fuel price movements and under-recoveries in the local pricing system.
Below, the latest projections as received by The South African website from the Central Energy Fund (CEF):
If the market conditions were to remain consistent for the remainder of the month – an unlikely scenario with the rand/dollar exchange rate fluctuating and the oil price ever changing – an increase of 20 cents is expected for petrol 93 octane motorists and an increase of 25 cents for 95 users.
Meanwhile, diesel motorists would see something between a 72 and 88 cents per litre increase.
Finally, illuminating paraffin is expected to rise by 79 cents in price.
FUEL PRICE IN SOUTH AFRICA IMPACTED BY TWO MAIN FACTORS:
1. The international price of petroleum products, driven mainly by oil prices
2. The rand/dollar exchange rate used in the purchase of these products
Oil price
At the time of publishing the brent crude oil price is $64.34 a barrel.
Exchange rate
At the time of publishing the rand/dollar exchange rate is R17.19/$.
The final overall price changes for both petrol and diesel will be confirmed later in the month with the new prices taking effect at midnight on either Tuesday, 2 December.
Go easy on the accelerator until then, Mzansi.

