Instabilities in capacitively coupled Ar/CF4 plasma discharges driven by dual frequency sources are investigated using a one-dimensional fluid/electron Monte Carlo hybrid model. Periodic oscillations of the electron density and temperature on the timescale of multiple low frequency (LF) periods are observed. As the electron density increases, an intense oscillation of the electron temperature within each high frequency (HF) period is initiated. This causes a fluctuation of the electron density and results in a discharge instability. This phenomenon is consistent with the discharge behavior observed in scenarios with single-frequency (SF) sources, as reported by Dong et al (2022 Plasma Sources Sci. Technol. 31 025006). However, unlike the SF case, plasma parameters such as the electron density, electric field, electron power absorption and ionization rate exhibit not only periodic fluctuations but also a spatial asymmetry under the influence of the dual-frequency source. This spatial asymmetry leads to a non-uniform distribution of the electron density between the electrodes, which is related to a spatially asymmetric electric field, electron heating, and ionization around a region of minimum electron density (inside the bulk). This region of minimum electron density is shifted back and forth through the entire plasma bulk from one electrode to the other within multiple LF period. The above phenomena are related to superposition effect between the instabilities and the dual-frequency source. Moreover, the time averaged electric field influences the spatio-temporal evolution of ion fluxes. The ion fluxes at the electrodes, which play an important role in etching processes, are affected by both the high and LF components of the driving voltage waveform as well as the observed instabilities. As the HF increases, the electronegativity and electron temperature are reduced and the electron density increases, resulting in a gradual disappearance of the instabilities.