Fuel price shock for SA: What you could pay next week

The projected fuel prices continue to spike, with the latest data from the Central Energy Fund (CEF) showing that motorists could be paying more than R10 per litre for diesel, marking the first time in the country’s history.

The CEF’s under-recoveries at the end of the fourth week of March also indicate that petrol prices may increase by over R5 per litre.

Forecast

According to the CEF’s data, the under-recovery in petrol prices has now reached between R5.24 and R5.76 per litre, while Diesel has soared to about R9.86 and R10.00 per litre.

Underrecoveries on illuminating paraffin are now amounting to R11.46 per litre.

If these forecasts remain unchanged, motorists will have to bear the pain of massive hikes on 1 April 2026.

• Petrol 93: Increase of R5.24 per litre
• Petrol 95: Increase of R5.76 per litre
• Diesel 0.05%: Increase of R9.86 per litre
• Diesel 0.005%: Increase of R10.00 per litre
• Illuminating paraffin: Increase of R11.46 per litre

How much will may pay

When the fuel price kicks in on 1 April,  the price will also include a 21-cent-per-litre tax hike.

ALSO READ: Fuel price hike: Can you work from home?

Impact

Meanwhile, as South Africans brace for a massive looming petrol price hike, residents in the Cape Peninsula are already feeling the pinch.

The United States and Israel’s war in Iran has ignited global panic, with the conflict expected to severely impact fuel prices and supply and businesses across the Garden Route, Klein Karoo and Hessequa.

Reports of rationing at Garden Route service stations and delayed diesel deliveries have raised concern, particularly within the agricultural sector at a critical time in the farming calendar.

An image circulating shows fuel pumps carrying signs reading, “Due to current economic and supply constraints, fuel will be limited to 50L of diesel per vehicle/customer per day. No fuel is to be dispensed into containers.”

Don’t panic

On Wednesday, Mineral and Petroleum Resources Minister Gwede Mantashe urged South Africans not to panic about a possible fuel shortage, saying vessels carrying cargo and supplies destined for South Africa are passing through the Strait of Hormuz without interruption or threats of attacks from Iran.

Mantashe said Iran’s stated position should allay fears of immediate supply disruption, especially to South Africa.

“I am sure if you monitor the news, you will appreciate that the Strait of Hormuz allows cargo that goes to South Africa without interruption. So that means we have a chance to maintain a stable supply for a long period of time. There should be no panic in South Africa; panic kills.”

Warning

However, Mantashe warned that there was little South Africa could do about oil price shocks.

“There are things we can do and things we can’t do. If cargo cannot reach us from the Middle East, then come 1 April, you can expect a price increase.  The only way that SA could mitigate the risk of oil price shocks would be for it to develop its own petroleum resources.”

Fuel supply

With motorists expected to flood filling stations ahead of next week’s fuel price increase, the Government has reiterated that the country’s fuel supply remains stable in the immediate term.

“There is no basis for panic buying,” the government said.

The government said calls for the public to rush to the pumps are irresponsible.

“Such actions place unnecessary pressure on supply systems, cause congestion at service stations, and create undue anxiety among motorists.

“Government calls on all organisations, public representatives, commentators, and social media users to act responsibly and refrain from spreading unverified or speculative claims regarding fuel supply and price development,” it said.

The government encouraged the public to continue buying fuel as normal.

ALSO READ: Government reveals its fuel plans as SA braces for record petrol and diesel hikes

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