Petrol and diesel prices are set to fall next week due to a reduction in the General Fuel Levy, offsetting an increase in the Basic Fuel Price (BFP).
The latest data from the Central Energy Fund (CEF) shows that petrol and diesel are still on track for an under-recovery in November.
Petrol is set to go up by between R1.01 and R1.17 per litre, while diesel is facing a larger hike of between R1.32 and R1.42 per litre.
The increases come as global oil prices remain elevated amid renewed tensions in the Middle East, with US President Donald Trump signalling that attacks on Iran will resume after the midterm elections next week.
Brent Crude oil prices have surged from $96 per barrel at the end of September to $112 as of the time of writing.
As a result, the BFP of petrol is now showing an under-recovery of 63c to 80c per litre, while diesel shows an under-recovery of 82c to 94c per litre.
Furthermore, the rand has weakened against the US dollar and is now trading at R16.64 per USD, making it more expensive to purchase and import refined petroleum products.
Consequently, the exchange rate will lead to an under-recovery in the BFP of petrol and diesel by roughly 36c and 47c per litre, respectively.
These are the CEF’s latest fuel price adjustment predictions at the end of the fifth and final week of October:
- Petrol 93 – increase of R1.17 per litre
- Petrol 95 – increase of R1.01 per litre
- Diesel 0.05% (wholesale) – increase of R1.42 per litre
- Diesel 0.005% (wholesale) – increase of R1.32 per litre
While the BFP is set to increase next month, the government has announced that it will temporarily slash the General Fuel Levy (GFL) to lower fuel prices.
Between 4 November and 1 December 2026, the GFL will be reduced by R1.50 per litre for petrol and R3.00 per litre for diesel.
“Geopolitical conflict has pushed up global oil prices and led to a sharp rise in the cost of living for businesses and households,” said Finance Minister Enoch Godongwana.
“Because we have rebuilt fiscal buffers, the government is in a stronger position to respond, including by providing temporary fuel relief levy again.”
The following table shows how fuel prices will be affected in November after the fuel tax cut has been factored in:
| Fuel Type | October fuel price | Projected change (with fuel relief) | Expected fuel price for November |
|---|---|---|---|
| Petrol 93 | R29.88 | – R0.33 | R29.55 |
| Petrol 95 | R30.25 | – R0.49 | R29.76 |
| Diesel 0.05% (wholesale) | R31.95 | – R1.58 | R30.37 |
| Diesel 0.005% (wholesale) | R33.29 | – R1.68 | R31.61 |
Petrol 93 price 2 October – 29 October
Petrol 95 price 2 October – 29 October
Diesel 0.05% price 2 October – 29 October
Diesel 0.005% price 2 October – 29 October
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1 commentsThe base price of fuel at the pumps are still too expensive for the normal person out there. So this confined “good news” terminology seems like jargon to cash strapped motorists.