Massive fuel price increase in April as oil prices skyrocket

Global energy stability is under threat as the United States and Israel's war on Iran enters a second week.

Exorbitant fuel price increases may be on the cards for South Africans in April.

On Monday morning (9 March), Brent crude oil prices soared to $115 per barrel, up by more than a 25% since Friday’s closing.

This is the highest level since 2022, following Russia’s invasion of Ukraine.

US President Donald Trump dismissed concerns over the oil price, noting that it was a “small price to pay”.

He added that the soaring prices were “short-term” and would drop when “the destruction of the Iranian nuclear threat is over”.

Massive fuel increase forecast for April

As the war shows no signs of slowing, early data from the Central Energy Fund paint a painful picture.

If the oil price surge continues, combined with a weakening rand and an increase in the fuel levy, motorists may see petrol prices rise by up to R3, with diesel up by almost R5.

95 unleaded petrol currently sits at R19,47 per liter on the coast and R20.30 inland, while 93 unleaded costs R20.19.

The wholesale price of diesel retails for R17.84 on the coast and R19.17 inland.