October fuel price hikes could exceed R3 as petrol and diesel reach record levels

Petrol and diesel prices are set to reach record highs in October, with potential increases of R3.12 for 95 Unleaded and R2.83 for 93 Unleaded. Diesel costs could rise by R2.73 to R3.13, breaking previous records due to significant under-recoveries and market volatility driven by high international oil prices, especially Brent crude reaching $108 per barrel amid Middle East tensions. Pump prices are expected to reach around R29.17 in coastal areas and R30.04 in Gauteng for 95 Unleaded, with wholesale diesel prices around R30.96 to R31.84.