From 21.1 cents to R26.52 for a litre of petrol

Fuel prices in South Africa have risen substantially over the past five decades, with the latest increase bringing the inland 93-octane petrol price to its highest on record.

According to data from Statistics South Africa (Stats SA), the price for a litre of 93 petrol was only 21.1 cents in January 1976, a far cry from the R26.52 per litre motorists have been paying at the pump in May 2026.

Stats SA recently published a deep dive on petrol prices in South Africa, providing a 50-year view of the country’s fuel prices.

The agency pointed out that in the 1970s, petrol price adjustments were set to fractions of a cent, something that may be inconceivable to many South Africans today.

Stats SA further noted that South Africa only saw petrol prices cross the R1 mark in November 1985, and it took two decades after that to reach R5 per litre.

However, the three years after 2005 saw prices skyrocket, doubling to R10 per litre in 2008.

In December 2021, South Africans saw prices at the pump hit R20 per litre for the first time. The price continued to climb in the years to follow, though it eased starting from July 2022.

Now, increases in April and May 2026 have pushed the price of inland 93-octane petrol to its highest level on record.

However, Stats SA pointed out that while this may be the price on record, it is not the largest increase South Africa has ever seen.

“We can use the consumer price index (CPI) time series to convert historical prices into today’s money. This shows that 10 cents in January 1980 would be equivalent to R3.74 in 2026,” the agency explained.

“In terms of percentage change, April and May 2026 currently rank as the fifth- and sixth-largest increases in this period.”

The graph below, courtesy of Stats SA, shows South Africa’s historical petrol prices from the 1970s to now.

Driving fuel prices

The increases South Africa has seen in April and May 2026 rank lower than those experienced in 1979, 1985, 1990, and 2008. The following events are what drove the increases seen in those years:

• 1979: The Iranian Revolution sparked panic in global oil markets
• 1985: A rapid depreciation of the rand triggered a painful spike in fuel prices
• 1990: Iraq’s invasion of Kuwait and the ensuing Gulf War disrupted global oil supply
• 2008: Interestingly, this major increase was due to a series of relatively smaller increases – six consecutive hikes – rather than a single blow, driven by record high global oil prices

Stats SA pointed out that, while many may focus on these spikes in the fuel price, there were also periods when the petrol price declined or remained stable. 

For example, the agency said the reversal in the price after July 2008 is striking, as oil prices rapidly cooled as the global financial crisis took hold. 

The petrol price fell to a low of R5.82 per litre in January 2009 from a peak of R10.50 in July 2008. “It would take another two years before the price reached R10 again,” Stats SA said.

Regardless of where the May 2026 hike falls in terms of historic increases, the reality is that South Africans are now paying significantly more for fuel.

This is not limited to petrol, with the May hikes also seeing motorists and other fuel consumers now paying over R30 per litre of diesel for the first time.

Stanlib chief economist Kevin Lings recently pointed out that diesel prices have risen by 79% over just the past three months.

To ease this burden and provide some relief, the National Treasury has temporarily reduced the General Fuel Levy for April and May, with partial relief in June.