Here is the latest fuel price forecast for May 2026

South African motorists are likely to face another significant increase in fuel prices May 2026Early estimates suggest the figure could exceed the sharp increase implemented in April.

Department of Mineral Resources and Energy (DMRE) has indicated that petrol, diesel and illuminating paraffin prices are under pressure due to ongoing volatility in global oil markets and a weak rand, mainly influenced by rising geopolitical tensions in the Middle East.

Temporary cut in fuel levy softens April growth

Fuel prices increased significantly in the beginning of April. However, the impact on motorists partially subsided after this National Treasury cuts general fuel levy by temporary R3.00 per liter.

As a result, petrol prices increased R3.06 per literWhile diesel increased Between R7.37 and R7.51 per literDepends on grade.

A sharp increase is expected in May

Early estimates for May suggest an even bigger increase may be on the horizon:

• Petrol 93: increase of R4.29 per liter
• Petrol 95: increase of R4.70 per liter
• Diesel (0.05% Sulphur): increase of R13.07 per liter
• Diesel (0.005% Sulphur): increase of R13.13 per liter
• Illuminating Paraffin: increase of R10.70 per liter

If these projections are confirmed, an increase is expected Additional pressure on household finances and the broader economy.

Global factors driving up fuel prices

Several international developments are contributing to the expected increase in fuel prices.

tension in middle eastConcerns have grown about potential disruptions to global oil supplies, particularly following the United States military strikes against Iran and subsequent retaliation.

These fears have pushed Brent crude oil prices above $100 per barrelWhile there is uncertainty about shipping routes strait of hormuzOne of the world's most important oil transportation corridors continues to influence global energy markets.

A weak rand This has also increased the cost of fuel imports into South Africa, putting pressure on local prices.

Diesel increase increases economic concerns

Diesel prices are expected to see the most dramatic increase, raising concerns for industries heavily dependent on the fuel.

like sector Goods transportation, agriculture and manufacturing Are heavily dependent on diesel, meaning that higher fuel costs are likely to increase transportation expenses and ultimately result in High food and consumer prices.

Economists warn that projected growth could rise further inflationary pressureEspecially after April's already substantial fuel price adjustments.

Market analysts say developments in global oil prices and currency movements in the coming weeks will ultimately determine Final fuel price adjustment for May.

latest forecast

Below, latest Estimates received by South Africans website From the Central Energy Fund (CEF):

If market conditions remain the same for the remainder of the month – an unpredictable scenario with rand/dollar exchange rate fluctuations and the oil price always changing – petrol 93 octane is expected to increase by 429 cents per liter for motorists and 470 cents for 95 users.

Meanwhile, diesel motorists will see an increase of between 1 307 and 1 313 cents per litre.

Ultimately, the price of Illuminating Paraffin is expected to increase to 1,070 cents.

The price of fuel in South Africa is influenced by two main factors:

1. International price of petroleum products, driven mainly by oil prices

2. The Rand/Dollar exchange rate used to purchase these products

oil price

The price of Brent crude oil at the time of publication is $111.27 A barrel.

exchange rate

The rand/dollar exchange rate at the time of publication is R16.91/$.

The final overall price change for both petrol and diesel will be confirmed at the end of the month and the new prices will be effective from midnight Tuesday, May 5.

April 2026 Petrol and Diesel Prices (Inland and Coastal):