Mid-month projections from the Central Energy Fund (CEF) continue to paint a grim picture for South African motorists, with another significant fuel price increase expected in May.

CEF data shows that the expected increase remains substantial.

Ongoing market volatility linked to the Middle East war is the key driver.

According to the latest projections, petrol prices are building an under-recovery of R2.63 for 95-octane and R2.29 for 93-octane per litre.

The wholesale price of diesel faces a staggering under-recovery of R8.05 per litre for 0.05% and R8.06 for 0.005%.

This will likely push the price of wholesale diesel to about R35 per litre.

Illuminating paraffin is projected to see another significant increase of R6.52.

*This article was first published by IOL News