South Africa · Energy
Updated 1 time · Latest: 07 October 2026
Key Facts
—Official. Petrol 93 rose by R3.12 a litre (about US$0.19), petrol 95 by R3.33 (about US$0.21) and diesel by R2.84 to R3.24 (about US$0.18 to US$0.20), the government announced for Wednesday 7 October 2026.
—Record. Inland 95 petrol now costs R30.25 a litre (about US$1.87), the first time inland petrol has passed R30, up from the previous record of R28.06 (about US$1.73).
—Drivers. The average Brent crude price rose from US$87.89 to US$101 a barrel between the two pricing periods, while the rand barely moved, from 16.213 to 16.212 per US dollar.
—Prediction markets. Polymarket gives 64.5% to South African annual inflation above 5.0% in its 2026 inflation market (US$77,775 traded, as of 9:25 a.m. ET, 7 October 2026).
—Why it matters abroad. South African pump prices are set from international oil and product prices, so they track the same oil market that moves fuel costs in the United States.
South Africa’s fuel prices rose to record highs at midnight, with petrol passing R30 a litre inland for the first time, as oil above US$100 a barrel outweighed a steady rand.
What the Government Announced
The Department of Mineral and Petroleum Resources set the October adjustment, and Minister Gwede Mantashe published it. Unleaded 95 petrol rises by 333 cents a litre (R3.33, about US$0.21 at the R16.21 per dollar average the department used). The cheaper 93 grade, sold only inland, rises by 312 cents.
Diesel rises by 284.38 cents for the 0.05% sulphur grade and by 324.38 cents for the cleaner 0.005% grade. Illuminating paraffin, which many poorer households use for cooking and light, rises by 358 cents a litre at wholesale. Liquefied petroleum gas (LPG) rises by 42 cents a kilogram nationally and by 48 cents in the Western Cape.
The New Pump Prices
IOL reports that inland 95 petrol now costs R30.25 a litre (about US$1.87) and inland 93 costs R29.88 (about US$1.84). On the coast, 95 petrol costs R29.38 (about US$1.81). Wholesale 0.05% diesel is R31.95 inland (about US$1.97) and R31.08 at the coast (about US$1.92).
Diesel is sold at wholesale baseline prices and retail diesel is not regulated, so forecourts can charge more. IOL expects retail diesel between R33 and R35 a litre (about US$2.04 to US$2.16). All dollar figures use the department’s average rate of R16.21 per US dollar.
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| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| GOLD | 3,889 | +0.10% | -7.28% | 3,885 | 3,927 | 3,871 | 132,225 |
| SILVER | 49.08 | -1.80% | -7.53% | 49.97 | 50.73 | 48.86 | 41,881 |
| BRENT | 95.74 | -0.08% | +51.94% | 95.82 | 97.12 | 95.07 | 17,850 |
| WTI | 88.54 | -0.23% | +50.86% | 88.74 | 89.64 | 87.80 | 145,349 |
| COPPER | 6.09 | -1.53% | +19.67% | 6.18 | 6.24 | 6.08 | 47,363 |
| LITHIUM | 58.52 | -1.53% | -8.12% | 59.43 | 59.59 | 58.42 | 95,340 |
| IRON ORE | 161.91 | — | +55.61% | 161.91 | 161.91 | 1 | |
| SOY | 1,233 | +0.49% | +8.92% | 1,227 | 1,241 | 1,219 | 84,005 |
| CORN | 445.75 | +0.73% | +0.96% | 442.50 | 450.25 | 441.75 | 186,045 |
| WHEAT | 593.25 | +1.54% | +10.73% | 584.25 | 600.00 | 582.00 | 78,096 |
| COFFEE | 273.80 | -2.28% | -31.84% | 280.20 | 279.20 | 272.35 | 15,960 |
| SUGAR | 18.43 | +1.15% | +27.63% | 18.22 | 18.54 | 18.16 | 48,131 |
| COCOA | 5,268 | +3.99% | -3.99% | 5,066 | 5,330 | 5,169 | 26,000 |
| ORANGE JUICE | 136.90 | -2.87% | -17.38% | 140.95 | 141.25 | 135.00 | 802 |
| COTTON | 79.02 | +0.44% | +25.63% | 78.67 | 79.90 | 78.63 | 18,270 |
| BEEF | 225.43 | +2.98% | +2.93% | 218.90 | 225.88 | 221.45 | 18,701 |
| CATTLE | 336.40 | +0.22% | -0.18% | 335.67 | 336.98 | 329.53 | 7,861 |
| USD/BRL | 5.64 | +0.01% | +6.66% | 5.64 | 5.67 | 5.63 | — |
Why Prices Rose Again
The department points to international product prices. The average Brent crude price rose from US$87.89 to US$101 a barrel between the two pricing periods. Brent is the global oil benchmark.
The rand offered no relief. It averaged 16.212 per US dollar, against 16.213 in the previous period. A slate levy of 87.66 cents a litre also applies, up 4.38 cents from 83.28 cents. The slate levy is a charge used to recover past fuel cost shortfalls.
What Prediction Markets Say
Prediction markets do not trade the pump price itself, but they trade the inflation it feeds. Polymarket’s “South Africa Annual Inflation 2026” market has US$77,775 traded and gives 64.5% to a reading above 5.0%, 13.4% to 4.7% to 5.0% and 19.4% to 4.4% to 4.7%, as of 9:25 a.m. ET on 7 October 2026. The market resolves on or around 20 January 2027, and its page does not name the inflation month; we found no matching South African market on Kalshi, the exchange regulated in the US by the CFTC. These prices are bets, not polls.
Why we show this: prediction markets turn real-money bets into a live probability that moves within minutes of the news, which is why investors, campaigns and newsrooms in the United States now follow them closely. We show them next to polls and official results, never instead of them.
What It Means for You
Visitors renting a car or filling a tank will pay about R3 a litre (roughly US$0.20) more than last month. Investors in rand assets should note that fuel costs feed into headline inflation, the figure the South African Reserve Bank targets.
The next adjustment is expected on the first Wednesday of November, which is 4 November 2026. Its direction will depend on oil prices and the rand in the weeks before. Falling Brent would ease pressure, while a weaker rand would add to it.
What We Could Not Confirm
Reports differ on the new wholesale price of cleaner 50ppm diesel inland, between R32.80 and R33.29 a litre across outlets, so we do not quote one figure. We also could not confirm which monthly inflation figure the Polymarket contract settles on.
Frequently Asked Questions
How much does petrol cost in South Africa from 7 October 2026?
Inland 95 petrol costs R30.25 a litre (about US$1.87) and inland 93 costs R29.88 (about US$1.84), according to IOL. Coastal 95 costs R29.38 (about US$1.81).
How much did South African fuel prices rise on 7 October 2026?
Petrol 93 rose by 312 cents a litre and petrol 95 by 333 cents. Diesel rose by 284.38 cents for the 0.05% grade and 324.38 cents for the 0.005% grade, the government announced.
Why did South African fuel prices rise again in October?
The department cites a higher average Brent crude price, US$101 a barrel against US$87.89 before. The rand averaged 16.212 per US dollar, so it gave no relief.
When is the next South African fuel price change?
South Africa adjusts regulated fuel prices monthly on the first Wednesday, so the next change is expected to take effect on 4 November 2026.
Sources
South African Government (DMPR statement) · IOL · Polymarket
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This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error