Fuel price recoveries have pushed even deeper into the red by the end of the third week of September, but motorists should catch a small break before the month’s end.<\/p>\n\n\n\n
This is thanks to a slight pullback in global oil prices, while the rand maintains its relatively resilient position against the US dollar.<\/p>\n\n\n\n
According to the latest data from the Central Energy Fund (CEF), petrol and diesel price recoveries have continued to deteriorate.<\/p>\n\n\n\n
Petrol prices are now deep in the red, with an under-recovery of between R2.71 and R2.88 per litre.<\/strong><\/p>\n\n\n\n Diesel price under-recoveries have also worsened, now at R2.60 and R3.00 per litre.<\/strong><\/p>\n\n\n\n This puts fuel prices for October squarely on the path to hit new all-time highs in South Africa. <\/p>\n\n\n\n Depending on slate levy adjustments, petrol prices could also surpass the R30-per-litre mark, with current recoveries only 20 cents per litre away.<\/p>\n\n\n\n These are the projected adjustments based on the latest recoveries:<\/p>\n\n\n\n The table below outlines the escalating price changes this year.<\/p>\n\n\n\n The price hikes are being driven by higher global oil prices, which have been higher than $100 a barrel for most of the month.<\/p>\n\n\n\n While a stronger rand against the dollar had been offsetting this by about 15 cents per litre, this grace was halved in recent weeks as the rand weakened.<\/p>\n\n\n\n Fuel price recoveries have thus been under pressure on both ends, leading to the significant under-recovery that is now all but guaranteed to push pump prices to record highs next month.<\/p>\n\n\n\n However, according to Investec Chief Economist Annabel Bishop, a late turn in global oil prices should at least bring the under-recovery down a bit.<\/p>\n\n\n\n On Wednesday (23 September), oil prices dropped below $100 a barrel for the first time in weeks, now trading at $99 a barrel.<\/p>\n\n\n\n While not the breakthrough markets want, the turn is a positive one for energy prices.<\/p>\n\n\n\n The drop comes as Saudi Arabia moved to restart a key pipeline and the US flagged progress in talks with Iran to end the war in the Middle East.<\/p>\n\n\n\n Bishop noted this week that while fuel prices are still expected to rise sharply in October, the increase could be slightly lower as the oil supply crisis eases.<\/p>\n\n\n\n On the political side, US President Trump has also said he is now in a \u201cdeclining mode\u201d on attacks on Iran, while hopes of talks between the US and Iran have increased at this week\u2019s UN meeting, she said.<\/p>\n\n\n\n The rub to these positive signs is that nothing is certain or guaranteed with the war or the Trump Administration.<\/p>\n\n\n\n A move towards peace in June, after a memorandum of understanding was signed by the US and Iran, collapsed just weeks later.<\/p>\n\n\n\n Bishop said the situation remains volatile, but markets are focusing on oil flows and, as a result, on inflation and interest rate effects.<\/p>\n\n\n\n\n
Month<\/th> Petrol 95
Price<\/th>Diesel 0.005%
Price (wholesale)<\/th><\/tr><\/thead>March 2026 <\/td> R20.30<\/td> R18.60<\/td><\/tr> April 2026<\/td> R23.36<\/td> R26.11<\/td><\/tr> May 2026<\/td> R26.63<\/td> R31.88<\/mark><\/strong>
(current record)<\/td><\/tr>June 2026<\/td> R28.06<\/mark><\/strong>
(current record)<\/td>R29.26<\/td><\/tr> July 2026<\/td> R26.10<\/td> R25.67<\/td><\/tr> August 2026<\/td> R25.58<\/td> R26.90<\/td><\/tr> September 2026<\/td> R26.92<\/td> R30.05<\/td><\/tr> October 2026 (projected)<\/em><\/td> R29.80<\/em><\/strong><\/mark><\/td> R33.05<\/em><\/strong><\/mark><\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n