Petrol and diesel prices in South Africa are on track to hit a new record high in October, with recoveries deep in the red, and no relief in sight.
According to the latest data from the Central Energy Fund (CEF) for the end of the first seven days of September, petrol and diesel prices are lining up for another huge hike.
Petrol is at an under-recovery of R1.81 and R1.93 per litre (for petrol 93 and 95), while diesel is at R1.73 and R2.03 per litre (for 0.05% and 0.005 sulphur).
If current market conditions persist for the rest of the month, petrol prices will surpass the new record high set in June 2026, when the Iran War shock pushed prices to R28.06 per litre.
At the current recovery levels, petrol prices could escalate to R28.83 per litre—a disastrous outcome for motorists.
Petrol prices broke the worst-ever levels in June 2026 after the shocks of the Iran War filtered through global energy markets.
The June 2026 price surpassed the previous record of R26.74 per litre reached in July 2022, when global oil markets were shaken by Russia’s invasion of Ukraine.
Both the Iran War and Russia’s war with Ukraine are ongoing.
With the wholesale price of 0.005% diesel at R30.05, prices are R1.83 per litre off from the latest record set in May 2026 of R31.88 per litre.
With under-recoveries for diesel at R2.03, October could set a new worst-ever level of R32.08 per litre.
Before 2026, the highest per-litre diesel price was R25.53, recorded in July 2022.
These are the latest recoveries:
Petrol 93: increase of R1.81 per litre
Petrol 95: increase of R1.93 per litre
Diesel 0.05% (wholesale): increase of R1.73 per litre
Diesel 0.005% (wholesale): increase of R2.03 per litre
Illuminating paraffin: increase of R2.08 per litre
The table below outlines the escalating price changes this year.
Month Petrol 95
Price Diesel 0.005%
Price (wholesale)
March 2026 R20.30 R18.60
April 2026 R23.36 R26.11
May 2026 R26.63 R31.88
(current record)
June 2026 R28.06
(current record) R29.26
July 2026 R26.10 R25.67
August 2026 R25.58 R26.90
September 2026 R26.92 R30.05
October 2026 (projected) R28.85 R32.08
No relief in sight
To avoid hitting record highs, the under-recovery in petrol would have to fall to R1.13 per litre by month-end (an 80 cpl improvement).
Unfortunately, the main driving force behind the massive under-recoveries in fuel prices is the US-Iran War in the Middle East, which is showing no signs of easing.
While global oil markets started breathing easier around July, when it appeared the war was coming to a close, that relief was undone when peace talks collapsed
