WATCH: The latest petrol and diesel projections [VIDEO]

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The latest petrol and diesel projections from the Central Energy Fund (CEF), although slightly better, still paint a worrying picture for October 2023 for South Africa’s motorists. This news comes on the back of massive price hikes for both petrol and diesel earlier this month, as reported by The South African website. The reason for the increase is due to both Russia and Saudi Arabia cutting production recently and extending that decision until the end of 2023. As a result the dollar has strengthened against the rand. If these market conditions were to remain consistent for the remainder of the month – an unlikely scenario with the rand/dollar exchange rate ever fluctuating and the oil price changing – an increase of 77 cents is expected for petrol 93 octane motorists and an increase of 83 cents for 95 users.

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NEWS IN A MINUTE ON: BIG PETROL, MASSIVE DIESEL HIKE NEXT WEEK

ALSO WATCH: Witness the last SUPERMOON for 2023 [VIDEO]

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