Significant Petrol Price Increase Expected in South Africa
South African motorists are bracing for a petrol price increase as of April 1, 2026, driven by soaring Brent crude oil prices and local economic conditions. The Central Energy Fund has confirmed that petrol 93 is expected to rise by approximately R2.28 per litre, while petrol 95 will see an increase of about R2.41 per litre.
On March 9, 2026, Brent crude oil prices surged to $115 per barrel, contributing to the under-recovery costs in South Africa, which currently stand at R2.40 per litre for petrol and R4.50 per litre for diesel. These figures highlight the growing financial strain on consumers as fuel prices continue to escalate.
Diesel prices are also set to rise significantly, with diesel 0.05% (wholesale) expected to increase by R4.39 per litre and diesel 0.005% (wholesale) by R4.50 per litre. Additionally, illuminating paraffin is projected to increase by R6.60 per litre.
The situation is exacerbated by a broader context of global energy instability, particularly due to ongoing conflicts involving the United States, Israel, and Iran. This geopolitical tension has raised concerns about the stability of oil supplies and prices worldwide.
In Nigeria, fuel prices have also seen dramatic increases, climbing from approximately 760 naira per litre to as high as 1,300 naira. The Dangote Petroleum Refinery has raised its petrol ex-depot price by around 7.5 cents, reflecting a 13% increase, as it sources additional crude at prevailing international prices. Nigerian crude grades are currently priced $3-$6 per barrel higher than Brent.
Afolakemi Ofili, a Nigerian observer, expressed concern about the impact of rising fuel prices, stating, “You can imagine what Nigeria is turning into now.” She further added, “I pray God intervenes in the war so that it will come to an end because this fuel shortage or fuel increase will affect everybody.”
As South Africa prepares for these increases, motorists are urged to brace for the financial implications. The duration of the Middle East conflict and its impact on fuel prices remains uncertain, and details remain unconfirmed.
Fuel price recoveries can change throughout the month depending on movements in the oil price and changes in the rand/dollar exchange rate, making it crucial for consumers to stay informed about potential fluctuations.
