Mantashe says there is no plan to help with increasing fuel prices: Here’s how much you could pay in October

Minister Gwede Mantashe of the Mineral Resources and Petroleum Department has stated that there are no plans in place to assist South Africans with the rising cost of fuel. The country's optimism regarding their finances was shattered in late February when the Middle East conflict triggered a significant surge in global oil prices.

This, coupled with the weakening South African currency, has led to fuel prices reaching an all-time high. Currently, petrol prices have surpassed the previous record of R26.74 per litre, set during the Ukraine war in July 2022, and are now approaching the R30 per litre mark. Wholesale diesel has also reached historic highs of more than R32 per litre.

In previous relief efforts, Finance Minister Enoch Godongwana temporarily suspended the fuel levy at the beginning of the conflict; however, this measure ended in July 2026. When asked by MP Adil Nchabeleng about any urgent measures being implemented to alleviate the impact of rising fuel costs, Mantashe responded that the department currently has no interventions planned, attributing it to the volatility in petroleum product prices.

The department is reviewing the regulatory accounting system, which aims to bring about equitable, fair, and transparent margins across the fuel value chain. October is expected to bring further financial strain for both diesel and petrol users, with diesel prices potentially reaching R32.08 per litre and petrol prices forecasted to reach R28.85 per litre.

Mantashe also revealed that the department has already reviewed the Basic Fuel Price component of the price structure but is currently undertaking a review of the Retail Assessment System (RAS), which will be concluded in March 2027. Proposed changes to the slate levy administration aim to ensure ongoing supply of fuels across the country during the ongoing Middle East conflict.