Analysts are predicting an increase of around R2 a litre in the price of petrol if the current oil price and currency trends persist until the end of the month.
Diesel looks set to rise by around R1.30 a litre but recent daily stats suggest that could rise somewhat.
At the beginning of June, the Finance Ministry announced a one-month extension of the temporary R1.50 “fuel tax holiday”, which will be halved in July.
This will add a further 75 cents to the fuel price if no additional concessions are made.
South African motorists are already struggling to fill their tanks and the dissatisfaction at the record fuel prices has begun to spark protests.
95 Unleaded petrol currently retails for R23.42 at the coast.
Last month the Automobile Association pointed out that the increases were being driven by the conflict in Ukraine, and consequent sanctions against Russia, as well as tighter global monetary policies.
The AA also welcomed the government’s plans to implement further measures to mitigate the fuel price crisis but urged quick action.
“The temporary relief is exactly that: temporary, and it’s now apparent that government must find more longer lasting solutions to mitigate against rising fuel costs,” the AA said.
“Government must act now to initiate a review of the fuel price: to examine all the components that comprise a litre of fuel, establish their continued relevance as part of the fuel price, and to determine if the calculations used are still correct.
“Such a review is long overdue and the longer government delays in getting this started, the longer it will take to find sustainable solutions.”
Parliament was set to debate the country’s fuel price crisis this week.