South Africa’s petrol price increase from 2008 to 2025

South Africa’s petrol price increased from R7.20 to R21.34 between 2008 and 2025 due to the rand weakening against the US Dollar.

In January 2008, Thabo Mbeki was South Africa’s president, and Trevor Manuel served as finance minister.

Under the Mbeki administration, the country experienced years of prosperity, and the government achieved consistent budget surpluses.

During the first fifteen years of democracy, GDP growth averaged 3.6% per year. It reached a peak of 5.6% in 2006.

Strong economic growth and a stable government attracted global investors, who pumped money into South Africa.

The country’s good economic performance helped bolster the local currency, and the rand traded under R7.00 to the US Dollar.

South African motorists were smiling because the two main aspects influencing fuel prices are the currency and oil prices.

Although Brent crude traded at $92 per barrel in January 2008, the strong currency means petrol costs R7.20 per litre.

However, tough times awaited the country. When Jacob Zuma replaced Thabo Mbeki as president, the currency weakened, and economic growth dried up.

Things did not change much under President Cyril Ramaphosa, and the local currency continued to weaken.

The rand went from R6.74 against the greenback in January 2008 to R18.77 seventeen years later.

Even though the price of Brent crude declined from $92 to $72 per barrel over the same period, the petrol price increased significantly due to the currency weakness.

Higher taxes are another factor contributing to the increase in the price of petrol. During the Zuma years, the fuel levy increased significantly.

The result was that the petrol price increased from R7.20 in January 2008 to R21.34 in January 2025.

The charts below show the petrol price increase, the rand exchange rate, and the oil price over the last seventeen years.

Petrol price per litre in South Africa

USD/ZAR exchange rate

Oil price