Petrol and diesel price pain for South African motorists

Both petrol and diesel will become more expensive on Wednesday, 2 September, as international oil prices continue to rise.

This is despite the rand having strengthened against the United States dollar over the past month.

On Monday, 31 August, Mineral and Petroleum Resources Minister Gwede Mantashe announced an adjustment of South Africa’s fuel prices, set to be implemented on Wednesday:

Based on current local and international factors, the fuel prices for September 2026 will be adjusted as follows:

• Petrol 93 and 95: 134 cents per litre increase
• Diesel 0.05% sulphur: 293.90 cents per litre increase
• Diesel 0.005% sulphur: 213 cents per litre increase

The Department of Mineral and Petroleum Resources largely attributed these increases to a rise in crude oil prices.

It noted that the average Brent Crude oil price rose from $82.37 to $87.88 per barrel over the past month. 

This increase, the department said, is due to ongoing US-Iran tensions, uncertainty over the flow of oil through the Strait of Hormuz, and higher shipping costs.

At the same time, the average international product prices of petrol, diesel, and illuminating paraffin increased.

This was due to supply shortages caused by the ongoing Russia/Ukraine conflict and lower global product inventories. 

These factors led to higher contributions to the Basic Fuel Prices of petrol, diesel, and illuminating paraffin.

These factors were partially offset by a stronger rand, with the local currency having appreciated from R16.46 to R16.21 per United States dollar.

This led to lower contributions to the Basic Fuel Prices of petrol, diesel, and illuminating paraffin, but was not enough to fully offset the impact of higher oil prices.

Other factors that led to the increase in South Africa’s fuel prices include the implementation of the Slate Levy and annual wage adjustments for forecourt staff.