Overview
- Preliminary Central Energy Fund projections indicate a best-case increase of R2.41 per litre for petrol and up to R4.50 for 50ppm diesel in April.
- Daily CEF readings show significant under-recoveries, with diesel around R7 per litre and petrol about R3.78, signaling strong upward pressure.
- Brent crude recently traded near $87 a barrel, roughly 36% above February’s average and about 20% higher over the past week, driven by regional conflict risks and concerns over the Strait of Hormuz.
- A weaker rand has added to costs, slipping from an average of R16.31 to roughly R16.54–R16.55 to the dollar after touching R16.79.
- From 1 April, fuel taxes rise by a combined 21c per litre across the General Fuel Levy, Carbon Levy and Road Accident Fund levy, while the official price adjustment will be set at the end of March and could still change.