The US and its ally Israel launched an attack on Iran on 28 February 2026, escalating tensions in the Middle East. This conflict has had a significant impact on global oil prices, leading to anticipated increases in petrol prices in South Africa.
Upcoming Price Changes
Petrol prices will increase on 1 April 2026, with predicted hikes of R2.41 for petrol 95, R2.28 for petrol 93, and R4.40 to R4.50 for diesel. The current petrol prices for March are R20.19 for 93-octane and R20.30 for 95-octane (Inland), while diesel prices stand at R18.53 for diesel 500ppm and R18.60 for diesel 50ppm (Inland).
The increase will also include a fuel levy hike, adding 35 cents to petrol and 38 cents to diesel per litre. This additional cost is expected to contribute to the overall rise in fuel prices.
Petrol prices had previously dropped by 65 cents per litre in January and February 2026, but were offset by a 20-cent hike in March. Currently, petrol prices are showing an under-recovery of R2.40 per litre, while diesel prices are under-recovered by about R4.50 per litre.
Global Oil Price Trends
The price of Brent Crude Oil has surged from around $60 a barrel to $85 a barrel due to the ongoing conflict in the Middle East. Additionally, the rand has weakened from under R16/$ to around R16.60/$, further exacerbating the situation.
Statements from Experts
Industry experts have expressed concern over the rising costs. Simon Williams stated, “If the price of a barrel stays at this level, or increases, then further forecourt rises will be inevitable.” Meanwhile, Howard Cox noted that many forecourts are already selling fuel at higher prices despite having purchased stocks before the wholesale rises.
Details remain unconfirmed regarding the exact impact of the fuel tax hikes on overall fuel prices. Observers are closely monitoring the situation as ongoing geopolitical tensions may continue to influence petrol prices in the coming months.
