Another fuel increase is set for June
Image: Leon Lestrade/Independent Media
Already cash-squeezed motorists will have to brace for yet another fuel hike, set for next month.
According to reports, motorists will have to fork out up to R2.20 for fuel and at least R3 more for diesel.
South Africa has faced consecutive petrol price increases prompted by the ongoing war in Iran.
According to AFP, oil prices rallied and stock markets fell on Tuesday as investors braced for further volatility after talks appeared to stall on ending the Middle East war and reopening the Strait of Hormuz to tanker and cargo ship traffic.
Momentum Group Foundation's Salem Nyati, said the impact of each hike goes beyond the tank.
"It feeds directly into the cost of food, transport and almost every essential in your monthly budget.
"We’ve seen this pattern before: fuel goes up, inflation follows, and households that were already stretched suddenly find themselves under real pressure. The risk now is that many consumers try to ‘bridge the gap’ with credit, and that’s where the real danger lies," Nyati explained.
In the last 50 years, the petrol price in SA has gone up exponentially.
IOL reported that in January 1976, petrol cost just 21.1 cents a litre. By May 2026, that had climbed to R26.52 a litre – an increase of roughly 12,470%, according to data compiled by Statistics South Africa.
The Durban Chamber of Commerce and Industry has expressed concern at the fuel price increases.
"South Africa’s heavy dependence on imported crude oil leaves us vulnerable to immediate fuel price hikes driven by global crude volatility. The impact on business is devastating, as fuel is used across all sectors, not only in transport.
"The agriculture sector is exposed through both fuel and the broader value chain, the manufacturing sector is also directly affected, so is the public transport sector as consumers will inevitably face the impact of increased prices," the Chamber said.
In April, the National Treasury announced the introduction of a temporary reduction in the general fuel levy of R3 per fuel litre. This was then extended until June 2.
IOL