Bad news about petrol prices, and a new Toyota for South Africa

South Africa’s road and infrastructure funding grew from R6.5 billion to R17.2 billion between 2011 and 2026; yet the country’s roads are getting worse.

According to Transport Minister Barbara Creecy, her department has provided supplementary funding for the maintenance of roads in all provinces since 2011.

In 2026, each province was allocated more than R1.5 billion. Despite this, the quality of the nation’s roads has deteriorated over the last 15 years.

The South African Institution of Civil Engineering (SAICE) gave the country’s provincial roads a D grade, meaning they are at risk of failure. Municipal paved roads received a D- rating.

Oil prices have surged to $107 per barrel this week as fighting between the Yemen-based Houthi militants and Saudi-backed forces intensified, sparking concerns about deeper supply and trade disruptions in the region.

Fighting has escalated across the Middle East since the start of the month. The Houthis have attacked Saudi energy facilities, and the US has targeted Iranian oil tankers.

China has also ramped up its crude oil purchases, putting even more pressure on global supplies.

The rand is currently trading at R16.16 per US dollar. The currency weakened on Thursday due to a stronger dollar and higher oil prices.

5 important things

Special edition Toyota Corolla coming to South Africa: Toyota is celebrating 60 years of the Corolla nameplate with a 60th Anniversary edition of the Corolla hatchback. The new model features exclusive styling details like 18-inch alloys, a black roof, decals, and silver scuff plates. [TopAuto]

Bad news about petrol prices: Finance Minister Enoch Godongwana said motorists should not expect any further relief from the government on fuel prices, as tax cuts would put pressure on the economy elsewhere. [MyBroadband]

9 out of the 10 best-selling cars in China are electric: Nearly all of the best-selling cars in China are now fully electric, and the only one that isn’t is a hybrid. There are no pure internal combustion engine cars left in China’s top 10. [CarNewsChina].

New Hyundai Tucson confirmed for South Africa: Hyundai has officially announced that the fifth-generation Tucson SUV will arrive in the third quarter of 2027, featuring a hybrid engine. [IOL].

Porsche to generate R18 billion from Bugatti sale: Porsche is selling its stake in the venture that owns the Bugatti brand as the VW Group attempts to cut costs. Since 2021, Bugatti was 45% owned by Porsche and 55% by Rimac. [Bloomberg].