South Africa’s rising petrol price is more pressing than supply, says minister

South Africans should be more concerned about rising fuel prices than about supply, says the Minister of Mineral and Petroleum Resources, Gwede Mantashe.

2 Oct 2026

Cars queue at a Shell petrol station in Johannesburg after the government announced it would reduce its fuel levy for a month to stop fuel prices from rising even further, 31 March 2026. Image credit: Reuters/Siphiwe Sibeko/File Photo

Mantashe told the National Assembly during the Economic Cluster question session, according to SABC News, that the country has crude oil reserves sufficient for 30 days, while Sasol has adequate coal reserves to support fuel production.

There is no threat of supply shortages; the biggest threat is pricing, the minister said, adding that the disruption in the Middle East and the Strait of Hormuz does have a direct impact on supply and the cost of petroleum.

The conflict between Israel, the US and Iran has seen global oil prices push up the price of fuel worldwide.

Fuel prices in South Africa would remain well above pre-war levels despite recent moderation, Bongani Motsa, chief economist at the Minerals Council South Africa, warned.

Further fuel price hikes could strain SA’s job market, warns economist

1 Oct 2026

The Central Energy Fund’s projections indicating a fuel hike were confirmed when the Department of Mineral and Petroleum Resources announced increases for all fuel types from Wednesday, 7 October 2026.

The adjustment to prices from Wednesday is as follows:

Petrol 93 (ULP & LRP): R3.12 increase.
Petrol 95 (ULP &LRP): R3.33 increase.
Diesel (0.05% sulphur): R2.84 increase.
Diesel (0.005% sulphur): R3.24 increase.
Illuminating Paraffin (wholesale): R3.58 increase.
Single Maximum National Retail Price for Illuminating Paraffin: R4.77 increase.
Maximum Retail Price of LPGas: 42c increase and 48c increase in the Western Cape.

This puts fuel prices at new records in South Africa — 95 Unleaded petrol reaching R29.38 per litre at the coast and R30.25 per litre in Gauteng, with 93 Unleaded rising to R29.88.

The wholesale price of 500ppm diesel reaches R32.03 per litre at the beach and R33.29 inland.