South Africa is pulling back one of its key protections against rising fuel costs just as renewed turmoil in global oil markets pushes crude prices above $100 (R1,652) per barrel, setting the stage for higher costs across Africa’s most industrialised economy.
From June 3, petrol prices will increase by R1.43 per litre, according to the Department of Mineral and Petroleum Resources (DMPR), despite lower international fuel product prices and a stronger rand during the latest review period.
The increase comes as Brent crude rose from $101 (R1,669) to $104.59 (R1,728) per barrel amid escalating tensions involving Iran and disruptions around the Strait of Hormuz, one of the world’s most strategically important oil routes.
The latest adjustment highlights a growing reality facing many import-dependent economies: geopolitical tensions in the Middle East can quickly spill into local inflation, transport costs and household budgets thousands of kilometres away.
South Africa’s fuel cushion is shrinking
