Diesel Prices Drop While Petrol Prices Remain Steady in South Africa

South African motorists will see virtually no change at the pump for petrol while wholesale diesel prices drop significantly this month, as temporary government tax relief offsets rising global oil costs and a weaker currency according to the petroleum department.

Official Fuel Price Adjustments for November

The Department of Mineral and Petroleum Resources published the official price adjustments effective Wednesday, November 4, 2026. Petrol prices for both 93 and 95 grades will drop by a minimal 1 cent per litre, while wholesale diesel prices will decrease by R1.10 per litre for 0.05% sulphur and R1.20 per litre for 0.005% sulphur.

Without the intervention of the National Treasury, motorists faced steep price increases. Basic fuel recoveries were deep in the red throughout October as climbing global oil prices combined with a weaker rand against the US dollar as reported by the department. The average Brent crude oil price increased from 101 US dollars to 108 US dollars a barrel during the review period according to official figures. South Africans would have seen petrol climb as much as R1.16 per litre and diesel by R1.42 had the temporary fuel relief measures unveiled prior to the municipal elections not been put in place.

If these projections hold true, motorists in coastal regions will shell out roughly R28.96 for a litre of 95 Unleaded and about R29.83 inland, where 93 Unleaded is expected to cost approximately R29.46. Meanwhile, the wholesale cost for 500ppm diesel is projected to drop to R29.50 at the coast and R30.37 inland, alongside figures of R30.25 and R31.12 for 50ppm.

Diesel Prices Drop While Petrol Prices Remain Steady in South Africa — Photo: IOL

National Treasury R10 Billion Relief Package

To shield consumers and businesses from soaring expenses, Finance Minister Enoch Godongwana announced a temporary fuel levy relief package during the Medium-Term Budget Policy Statement on October 21. The measure cuts the general fuel levy by R1.50 per litre for petrol and R3.00 per litre for diesel starting November 4.

This relief is scheduled to taper down on December 2, reducing the tax cut to R1.00 per litre for petrol and R1.50 per litre for diesel until it expires on January 5, 2027. Treasury funded the R10 billion package by returning money that was previously transferred to the Central Energy Fund back to the National Revenue Fund to be placed in the Contingency Reserve.

To fund this relief, the R10 billion that was transferred to the Central Energy Fund will be returned to the National Revenue Fund and put into the Contingency Reserve.

Finance Minister Enoch Godongwana, via MyBroadband

Mahlengi Bhengu, the National Spokesperson of the African National Congress (ANC), addressed the political debate surrounding the timing of the intervention as South Africa approached the 4 November 2026 local government elections.

Slate Levy Increases Offset Petrol Price Savings

While the tax reductions prevented sharper spikes, a massive increase in the slate levy cancelled out most of the potential savings at the petrol pump according to market analysis. The cumulative slate balance sat at a negative R15.876 billion at the end of September, triggering an increase in the slate levy to 135.84 cents per litre under the self-adjusting mechanism.

The petroleum department attributed global price pressures to geopolitical conflict and shipping expenses:

The increase is due to uncertainty caused by Middle East conflict, including the recent attacks on Saudi Arabia infrastructure, as well as high freight and insurance costs caused by ship-to-ship transfers.

Department of Mineral and Petroleum Resources, via News24

Additional increases were driven by a weaker rand, which depreciated against the US dollar from an average of R16.21 to R16.55 during the review period noted in department data. Meanwhile, illuminating paraffin wholesale prices increased by R2.75 per litre, and the maximum retail price of LPGas rose by 183 cents per kilogram across the country.