September fuel prices: Where we are after 20 years of rising costs
September fuel prices are set to rise considerably. How has it changed over 20 years? Here’s what shaped what motorists pay now.
There is just more than a week left before September, when fuel prices may yet rise again.
History shows that motorists should expect more volatility as time goes by. This look at the previous 2 decades tracks the cost from 2005 to 2026, and explains the forces behind the pump.
WHAT WILL HAPPEN TO FUEL PRICES IN SEPTEMBER?
South Africa’s fuel price story rarely follows a straight road. In 2005, inland 93 petrol cost R5.02 a litre. A 40-litre tank therefore cost R200.80.
By August 2026, the same tank costs R1 016.80, with petrol at R25.42 a litre. That is a 406.37% increase in just over two decades. Inflation over the same period was 203.7%, meaning petrol rose at roughly twice the rate of general prices.
The latest figure also shows how quickly relief can disappear. Petrol fell by 52 cents in August, after a sharp run of increases earlier in 2026.
The September price is still to be announced.
WHY HAVE FUEL PRICES RISEN SO MUCH?
The answer lies far beyond the forecourt.
South Africa’s Basic Fuel Price responds to international petroleum prices and the rand-dollar exchange rate. Domestic taxes, levies and other regulated costs also shape what motorists pay.
History provides some stark examples. In 1990, Iraq invaded Kuwait, disrupting global oil markets. Petrol prices rose in both September and October. Stats SA says the episode produced the third-largest single increase in its historical series.
The 2008 commodities boom brought another shock. Oil climbed above $145 a barrel, while South Africa recorded six consecutive petrol increases.
Inland 93 petrol breached R10 a litre in July. It then fell sharply as oil prices cooled during the global financial crisis.
WHAT DOES THE 20-YEAR FUEL PRICE JOURNEY SHOW?
The long view makes today’s price easier to understand. Petrol first crossed R20 a litre in December 2021. It reached R26.31 in July 2022, before falling to R19.99 in February 2026.
Then the seesaw returned.
April and May 2026 produced the fifth- and sixth-largest monthly increases in the 50-year series. May’s R26.52 inland 93 price became the highest on record.
Global conflict again played a role in 2026.
Disruption around the Strait of Hormuz pushed oil prices sharply higher before they eased. Meanwhile, Russia-Ukraine-related supply constraints and reduced Middle East refinery output pushed diesel costs higher.
The rand also weakened against the dollar during the latest review period. A negative slate balance added another pressure point. The government introduced a 61.38c-a-litre slate levy in August, although this was lower than the previous 113.94c.
WHAT COULD SEPTEMBER BRING?
There is no reliable crystal ball at the pump. Oil prices, the rand and international product prices can change quickly before the next adjustment.
That is the lesson from 20 years of fuel prices. A temporary cut does not mean the era of expensive petrol has ended. For motorists, the only certainty is that the next price can move either way.