File picture: Motshwari Mofokeng / Independent Media.

South African motorists are going to be hit with another fuel price hike from Wednesday, September 6, and this is going to be a steep one, with all grades of petrol increasing by 67 cents a litre and diesel by 44 cents per litre.

But how much exactly will you be paying at the pumps?

As the table below illustrates, a litre of 95 Unleaded will now set you back R13.72 in Gauteng and R13.23 at the coast, while the inland price of 93 Unleaded will rise to R13.49.

* As diesel prices are not regulated, they do vary from forecourt to forecourt. Our figures are an estimation based on a survey of five stations in Cape Town and five in Johannesburg. The prices varied by up to 45 cents a litre in each region, which shows that it pays to shop around and find the best price within a convenient radius.

Why are the prices increasing?

According to the Department of Energy, the rand depreciated, on average, during the month of August, peaking at R13.49 earlier in the month, before gradually appreciating towards the R13 mark. Yet an even bigger factor was the rise in international oil prices. This was partly due to hurricane Harvey forcing the closure of several refineries along the US Gulf Coast.

Annual wage increases for forecourt staff contributed a further 4.5 c/l to the month’s fuel price hike.

The rand has shown strength in the early days of September, trading just below the R13 mark, however, oil prices have remained high, trading at $12.47 per barrel at the time of writing, and if current trends persist, there would be yet another fuel price increase on the cards for October.

IOL Motoring