By Lehlohonolo Lehana.
The Department of Petroleum and Mineral Resources has published the official fuel price adjustments that will take effect on Wednesday, 4 March 2026.
Prices for both grades of petrol 93 and 95 will increase by 20 cents per litre.
Diesel will go up by 62 cents per litre. The wholesale price of illuminating paraffin will rise by 44 cents per litre and the retail price by 58 cents per litre. LPGas will cost 23 cents more per kilogram.
Last month we saw oil prices trade higher as a result of geopolitical volatility and escalations between the US and Iran in the Middle East, which resulted in the US and Israel launching attacks on the country at the weekend.
This saw oil prices rise from below $60 a barrel to over $80 a barrel during the month, with much of the rise occurring on the last day.
The rise in oil was offset by rand resilience, but not enough to keep fuel price recoveries positive.
The rand appreciated against the US Dollar during the period under review, on average, when compared to the previous period.
The average Rand/US Dollar exchange rate for the period 30 January 2026 to 26 February 2026 was 15.9959 compared to 16.3054 during the previous period. This led to a lower contribution to the Basic Fuel Prices on petrol, diesel and illuminating paraffin by 16.959 c/l, 19.200 c/l, 19.207 c/l, respectively.
In line with the provisions of the Self-Adjusting Slate Levy Mechanism, the Slate Levy on petrol and diesel will remain at 0.00 c/l with effect from 4 March 2026.
The maximum refinery gate price will be R11,470.61 per metric ton (636.619 c/l), excluding VAT, for the period 4 March 2026 to 31 March 2026, translating to a 23 cents per kg increase.