Minister of Mineral and Petroleum Resources Gwede Mantashe has announced a new adjustment to South Africa’s fuel prices, with increases set to take effect from Wednesday (March 4, 2026).
According to the figures released by the department on Monday, the petrol price will increase by 20 cents a litre to R20.19, while the price of diesel will rise by at least 62 cents per litre to R18.53.
Illuminating paraffin, generally used by low-income households, will rise by 44 cents per litre, while the maximum retail price of LPG gas will scale up by 23 cents per kilogram nationally and 26 cents per kilogram in the Western Cape.
International and local factors, according to Mantashe, drive the changes and influence the country’s monthly fuel price review.
The government adjusts fuel prices on a monthly basis, primarily due to its reliance on imported crude oil and refined petroleum products.
The government purchases these imports at internationally determined prices, which also include additional costs like shipping.
Jump in crude oil prices
According to the department, a key driver behind the March increases is the rise in global crude oil prices.
The average Brent crude oil price climbed from $64.08 (R1 034) to $69.08 per barrel during the period under review.
Higher shipping rates and heightened geopolitical uncertainty, particularly tensions between the US and Iran, have contributed to the increase.
Concerns over potential supply disruptions in the Strait of Hormuz, a critical global oil transit route, have further added pressure to prices.
International petroleum product prices have mirrored the upward trend in crude oil.
As a result, contributions to the basic fuel price increased by 37.53 cents per litre for petrol, 81.36 cents per litre for diesel, and 63.81 cents per litre for illuminating paraffin.
Despite the rand appreciating against the US dollar, strengthening from R16.31 to R16 per dollar on average compared to the previous period, the exchange rate still contributed to higher basic fuel prices.
Slate levy stays unchanged
Meanwhile, the cumulative slate balance for petrol and diesel stood at a positive R5.9-billion at the end of January 2026.
In line with the self-adjusting slate levy mechanism, the slate levy will remain unchanged at zero cents per litre in the price structures of petrol and diesel from March 4, 2026.
The maximum refinery gate price for LPG gas imported through the Port of Saldanha Bay in the Western Cape has been set at R13 076.49, while the maximum retail price will be R33.84 per kilogram.
Based on the current conditions, fuel prices will be adjusted as follows:
Maximum retail price of LPG gas: increase of 23 cents per kilogram nationally and 26 cents per kilogram in the Western Cape
Motorists and consumers can expect the new prices to take effect at midnight on Wednesday.
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