Overview
- South Africa’s DMRE will raise petrol by 20c/l and diesel by 62–65c/l from 4 March, with wholesale illuminating paraffin up 44c/l (SMNRP +58c/l) and LP gas up 23c/kg nationally and 26c/kg in the Western Cape.
- Officials said higher international product prices, increased shipping rates and US–Iran tensions drove the adjustment, noting Brent crude averaged about $64 to $69 per barrel during the review period.
- A separate tax change from 1 April will add roughly 21c/l to pump prices via increases to the General Fuel Levy, carbon levy and RAF levy confirmed in the Budget.
- Brent spiked in early March, with reports of intraday moves toward $79–$82 per barrel and attacks and warnings near the Strait of Hormuz raising supply-route risk; experts caution pump effects typically lag 7–10 days.
- Governments are tightening oversight as Pakistan plans to fully pass global price rises to consumers, UK and Australian officials urge against panic buying, and Australia tasks the ACCC to police gouging while acknowledging fuel stocks of roughly 36 days for petrol and 34 for diesel.