Pretoria: The Department of Mineral and Petroleum Resources (DMPR) has announced that from Wednesday, all fuel types will experience price increases. This adjustment reflects significant changes in the global oil market and domestic economic factors.
According to South African Government News Agency, the price adjustments will see both grades of Petrol 93 and 95 (ULP and LRP) increase by R1.34. Diesel prices will also rise, with a R2.93 increase for 0.05% sulphur and R3.14 for 0.005% sulphur. Illuminating Paraffin will see a wholesale price hike of R2.13, while the Single Maximum National Retail Price for the same will increase by R2.84. The Maximum Retail Price of LPGas will increase by 69c, with an additional increase of 79c in the Western Cape.
The DMPR attributed these increases to several international factors. The average Brent Crude oil price rose from 82.37 US Dollars (USD) to 87.88 USD, driven by ongoing US/Iran tensions, uncertainties in the Strait of Hormuz, and escalating shipping costs. Additionally, international product prices for petrol, diesel, and illuminating paraffin have risen due to supply shortages stemming from the Russia/Ukraine conflict and diminished global inventories.
These international conditions have resulted in higher contributions to the Basic Fuel Prices (BFP) for petrol, diesel, and illuminating paraffin, with increases of 127.79 cents per litre (c/l), 321.29 c/l, and 239.06 c/l, respectively. Prices for Propane and Butane also saw increases during the review period.
Domestically, the Rand's strengthening against the USD has provided some relief, leading to lower contributions to the BFP of petrol, diesel, and illuminating paraffin by 21.07 c/l, 29.06 c/l, and 26.69 c/l, respectively. However, the cumulative slate levy presented a negative balance of approximately R9.519 billion for petrol and diesel as of the end of July 2026.
The DMPR noted that, following the Self-Adjusting Slate Levy Mechanism, a slate levy of 83.28 c/l will be implemented in the price structures of petrol and diesel starting from September 2, 2026. This represents an increase of 21.90 c/l from the previous levy of 61.38 c/l.