Double dose of BAD news for South Africa’s motorists

With just days to go until the next fuel price adjustments, bad news almost certainly awaits South Africa’s motorists.

Thanks to sky-high Brent crude oil prices, there are likely to be hefty hikes in both the price of petrol and diesel at the pumps next week.

The hopes of a reduction in price – as was the case in January and February this year – have been tempered by a recent increase in Brent crude oil prices, driven largely by ongoing geopolitical tensions between the United States and Iran.

This has been offset in part by a stronger rand exchange rate against the dollar.

Breakdown of the Increase

Meanwhile, Finance Minister Enoch Godongwana announced an inflation-linked increase in fuel levies, adding a total of 21 cents per litre to the price of fuel, during his 2026 Budget Speech on Wednesday.

The 21-cent per litre increase is made up as follows:

• General fuel levy:
  • Up by 9 cents per litre for petrol (to R4.10/litre)
  • Up by 8 cents per litre for diesel (to R3.93/litre)
• Carbon fuel levy:
  • Up by 5 cents per litre for petrol
  • Up by 6 cents per litre for diesel
• Road Accident Fund (RAF) levy:
  • Up by 7 cents per litre to R2.25/litre

The combined adjustments will push total fuel-related taxes on petrol and diesel higher from the start of the new financial year.

This 21-cents per litre levy is not yet factored into the price projections listed below.

Latest forecast

Below, the latest projections as received by The South African website from the Central Energy Fund (CEF):

If the market conditions were to remain consistent for the remainder of the month – an unlikely scenario with the rand/dollar exchange rate fluctuating and the oil price ever changing – an increase of 18 cents per litre is expected for petrol 93 octane motorists and an increase of 21 cents for 95 users is anticipated.

Meanwhile, diesel motorists would see something between a 62 and 65 cents per litre increase.

Finally, illuminating paraffin is expected to rise by 45 cents in price.

FUEL PRICE IN SOUTH AFRICA IMPACTED BY TWO MAIN FACTORS:

1. The international price of petroleum products, driven mainly by oil prices

2. The rand/dollar exchange rate used in the purchase of these products

Oil price

At the time of publishing the brent crude oil price is $71.30 a barrel.

Exchange rate

At the time of publishing the rand/dollar exchange rate is R15.88/$.

The final overall price changes for both petrol and diesel will be confirmed later in the month with the new prices taking effect at midnight on Tuesday, 3 February.

The current February 2026 petrol and diesel prices (Inland and Coastal):