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Oil prices

7 Results / Page 1 of 1

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Government corrects diesel price error ahead of fuel hike

The Department of Mineral and Petroleum Resources (DMPR) has corrected its latest fuel price announcement after discovering a calculation error that overstated the diesel price increase set to take effect on Wednesday. In a statement, the department confirmed that an internal mistake during the May 2026 fuel price calculations let to the the diesel levy relief being incorrectly captured. What should have been recorded as a 93.00 cents per litre […]

todayMay 5, 2026 84

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COSATU warns fuel price hikes will push South Africans to the brink

  South Africans will have to dig deeper into their pockets as fuel prices are set to increase from Wednesday, adding pressure on already stretched households. Both grades of petrol will increase by R3,27 per litre, while diesel will rise by R6.19 per litre. The department has attributed the increases partly to ongoing geopolitical tensions between the US and Iran, which have contributed to volatile global oil prices. The latest […]

todayMay 4, 2026 148

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Government cuts fuel levy by R3 per litre ahead of fuel hike

Government has cut the fuel levy by  R3 per litre as a temporary relief measure ahead of Wednesday's fuel price hike. Finance Minister, Enoch Godongwana, says this will reduce the general fuel levy for petrol from R4.10 per litre to R1.10, and for diesel from R3.93 per litre to R0.93, from tomorrow until 5 May. The ongoing conflict in the Middle East involving the US, Israel and Iran has pushed […]

todayMarch 31, 2026 62

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Interest rates hold steady as Middle East tensions cloud outlook

Economist, Dawie Roodt, says the decision to keep interest rates unchanged comes as no surprise, but warns that escalating tensions in the Middle East are creating uncertainty about the economic outlook. His remarks come after the South African Reserve Bank's (SARB) decision to hold the repo rate at 6.75%, with the prime lending rate remaining at 10.25%. Roodt however cautioned that the ongoing conflict is already driving up global oil […]

todayMarch 26, 2026 94

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SA assures stable fuel supply amid Middle East tensions

  Government has reassured South Africans that the country’s fuel supply remains stable, despite the escalating conflict in the Middle East. The Department of Mineral and Petroleum Resources says fuel shipments for March and early April were secured in advance and are already being delivered. However, global oil prices have risen above 100 dollars per barrel and are expected to place upward pressure on domestic fuel costs. "As a net […]

todayMarch 19, 2026 50

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SA begins process to bring 116 stranded citizens back from the Middle East

At least 116 South Africans stranded in the Middle East are expected to be reunited with their families by the end of this week. The Department of International Relations and Cooperation (DIRCO) says the first group of 30 citizens will fly home from Riyadh, Saudi Arabia, today. Thousands of flights were disrupted after escalating strikes between the United States, Israel, and Iran led to airspace closures across parts of the region. The department […]

todayMarch 9, 2026 44

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Motorists to pay more at pumps; FOSA calls for relief

Motorists will pay more at the pumps from Wednesday, 4 March 2026, following the latest fuel price adjustments announced by the Department of Mineral and Petroleum Resources (DMPR). The Forum for South Africa (FOSA) has criticised the increases, warning they will place further strain on households already grappling with unemployment, rising food costs and electricity hikes. The department attributed the price hikes to rising international oil prices, with Brent crude […]

todayMarch 3, 2026 32