South African motorists will most probably get a break at the pumps next week when fuel prices adjust on Wednesday, with petrol expected to drop by around 23 cents per litre and diesel by about R1.70 per litre.
The decreases come despite unfavourable global market conditions that would have pushed prices even higher without government intervention.
According to the latest data from the Central Energy Fund, fuel prices were tracking for increases of between R1.27 and R1.38 per litre for petrol and R1.24 to R1.29 per litre for diesel.
However, the temporary fuel levy cuts announced by Finance Minister Enoch Godongwana last week will flip these increases into small decreases when the monthly adjustment takes effect on 4 November.
Levy cuts turn hikes into relief
From next Wednesday, the general fuel levy will drop by R1.50 per litre for petrol and R3 per litre for diesel, turning what would have been painful hikes into modest relief.
Inland motorists can expect to pay between R29.76 and R30.02 per litre for 93 and 95-octane petrol respectively, down from the current prices of R29.88 and R30.25 per litre.
Wholesale diesel prices are projected to fall to between R30.24 and R31.53 per litre, compared to current levels of R31.95 and R33.29 per litre for the two grades.
Coastal prices will also see similar decreases, with 95-octane petrol expected to cost around R29.15 per litre, down from the current R29.38.
Diesel users benefit most
The relief is particularly significant for diesel users. Farmers, logistics companies, factories and owners of diesel vehicles will benefit from price drops of up to R1.76 per litre on some grades.
For petrol users, the margin between a cut and a hike remains slim at just 12 to 23 cents per litre. Any further weakening of the rand or spike in oil prices before month-end could still push prices back into positive territory.
Markets remain volatile
Global oil markets remain volatile, with Brent crude hovering around $114 per barrel following attacks on Saudi Arabia and cargo ships in the Strait of Hormuz and Persian Gulf. The rand has also weakened to about R16.55 against the dollar.
The Department of Mineral and Petroleum Resources will announce the official fuel price adjustments in the final days of October, confirming exactly how much motorists will pay from 4 November.
Small relief amid massive increases
While any price decrease offers welcome relief, the projected cuts barely dent the massive increases experienced throughout 2026. Petrol prices have climbed by more than R10 per litre since February, while diesel has jumped almost R15 per litre over the same period.
The temporary levy relief will continue until 1 December, after which the cuts will reduce to R1 per litre for petrol and R1.50 per litre for diesel until 5 January 2027.
