South African petrol prices will rise by R3.06 per litre to R23.25 inland from midnight on 1 April, while diesel reaches a record R26.11 per litre after a R7.51 increase. The hike stems from global oil prices exceeding $100 per barrel amid the Iran war and a weakened rand. A temporary R3 per litre reduction in the fuel levy cushions the impact.
From midnight on 1 April, inland petrol prices will increase by R3.06 per litre to R23.25, and inland diesel by R7.51 per litre to R26.11, a record high. The adjustments reflect higher international crude oil prices over $100 per barrel, driven by the Iran war, combined with the rand's depreciation against the dollar.
The Finance Ministry and Ministry of Minerals and Petroleum Resources announced a temporary cut to the general fuel levy by R3 per litre, effective from 1 April to 5 May 2026. "The minister of finance proposes that the general fuel levy is temporarily reduced by R3 per litre from Wednesday, 1 April 2026 to Tuesday, 5 May 2026," the ministries stated in a joint statement. This lowers the petrol levy from R4.10 to R1.10 per litre and diesel from R3.93 to R0.93 per litre for one month.
Economists note that without this measure, the price surge would add at least 1.0 percentage point to April's consumer price index (CPI), which hit 3.0% in February, aligning with the South African Reserve Bank's target. The cut is expected to keep April CPI near 4.0%, the upper end of the Bank's tolerance band, but it will cost Treasury about R6 billion in revenue.
The ministries indicated further reforms, including a medium-term review of fuel pricing and additional support for households and key economic sectors, with details to follow.
