Here's the GOOD news for petrol vehicle owners and BAD news for diesel drivers
According to the latest data from the Central Energy Fund (CEF), petrol prices in South Africa are currently showing signs of an over-recovery, indicating that pump prices could drop if current trends persist.
One of the key global developments influencing the market is the resurgence in oil prices following US President Donald Trump's announcement that he would reinstate and expand his controversial 'Liberation Day' tariff regime.
South Africa is among the countries facing these tariffs, with a 30% duty set to take effect from 1 August, after a three-week implementation delay designed to allow for further negotiation.
The announcement has added some pressure to global oil prices, pushing Brent crude from around $66 to just over $70 a barrel.
However, unlike previous instances of Trump's unpredictable trade policy shifts, markets responded with less panic, thanks in part to the advance warning and measured rollout.
At home, the rand has held firm despite global uncertainty, helping South Africa buffer the impact of rising oil prices.
This has helped keep petrol price recoveries in check, while broader trends point toward an oversupply of oil globally, driven by a fragile ceasefire in the Middle East and renewed focus on OPEC+ production.
Below, the latest projections as received by The South African website from the Central Energy Fund (CEF), effective Tuesday, 8 July. FUEL PRICE CHANGE Petrol 93 decrease of 26 cents Petrol 95 decrease of 23 cents Diesel 0.05% increase of 58 cents Diesel 0.005% increase of 56 cents Illuminating Paraffin increase of 22 cents
If the market conditions were to remain consistent for the remainder of the month – an unlikely scenario with the rand/dollar exchange rate fluctuating and the oil price ever changing – a decrease of 26 cents is expected for petrol 93 octane motorists and a decrease of 23 cents for 95 users.
Meanwhile, diesel motorists would see something between a 56 and 58 cents per litre increase.
Finally, illuminating paraffin is expected to rise by 22 cents in price. FUEL PRICE IN SOUTH AFRICA IMPACTED BY TWO MAIN FACTORS:
1. The international price of petroleum products, driven mainly by oil prices
2. The rand/dollar exchange rate used in the purchase of these products
Oil price
At the time of publishing the brent crude oil price is $70.44 a barrel.
Exchange rate
At the time of publishing the rand/dollar exchange rate is R17.84/$.
The final overall price changes for both petrol and diesel will be confirmed early next month with the new prices taking effect at midnight on Tuesday, 5 August 2025.
Go easy on the accelerator until then, Mzansi. INLAND July Petrol 93 R21.79 Petrol 95 R21.87 Diesel 0.05% R19.35 Diesel 0.005% R19.41 Illuminating Paraffin R13.16 COASTAL July Petrol 93 R21.00 Petrol 95 R21.04 Diesel 0.05% R18.52 Diesel 0.005% R18.65 Illuminating Paraffin R12.14
Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1
Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
eNCA
10 hours ago
- eNCA
Tackling 2026 poll strategy, economic challenges
JOHANNESBURG - The ANC National Executive Committee is meeting in Johannesburg until Monday. The four-day meeting of the party's highest decision-making body is the first in four months. On the agenda is the 2026 local government election strategy and economic resilience. It comes as US President Donald Trump's 30 percent tariffs on South African goods comes into effect.
IOL News
12 hours ago
- IOL News
Aquarius Energy acquires 37% stake in Saldanha Bay crude oil terminal
The logo of Glencore is seen in front of the international commodity trading and mining company's headquarters in the Swiss town of Glencore-Tristar joint venture Aquarius Energy has acquired a 37% stake in the 10 million barrel capacity Saldanha Bay crude oil storage and blending site, Image: Suplied The Glencore-Tristar joint venture Aquarius Energy completed a purchase of a 37% stake in the 10 million barrel Saldanha Bay crude oil storage and blending site, Quantum Commodity Intelligence reported online on Friday. Aquarius bought the stake from Oiltanking, a company which, an online search showed is owned by the privately held energy and chemicals company Marquard & Bahls AG, which operates petroleum product terminals in 23 countries, and the terminal has been renamed to Aquarius MOGS Saldanha (AQMS). Saldanha Bay is strategically located between the Atlantic Basin and the Indian Ocean, which is a major shipping route for crude oil cargoes, particularly during the Covid-19 pandemic when a global oversupply of oil appeared almost overnight. Quantum Commodity Intelligence reported that the utility could again benefit from a slowing global economy and gradually increasing crude supply coming to the market, which may lead to an oversupply of barrels. In 2025, 20 tankers have called at Saldanha to unload a combined 20.4 million barrels of crude from locations as varied as the US, Nigeria, Angola, and Brazil, according to Kpler data. Aquarius also owns oil storage and blending sites in Mozambique, Zimbabwe, and Ghana in Africa, as well as Argentina, Mexico, Belgium, and the UAE. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading Crude oil futures slid at the end of the week due to expectations of a significant increase in Opec+ output, exacerbating a sell-off after prices touched six-week highs during Thursday's trading session. Brent futures settled at $69.67 per barrel on Friday versus $71.70 per barrel on Thursday. Last week, Reuters reported that the Opec alliance could add as much as 548 000 barrels per day of extra production when it met over the weekend. Visit:
IOL News
13 hours ago
- IOL News
FW de Klerk Foundation urges South Africa to diversify trade amid US tariffs
Former apartheid-era president F.W. de Klerk's foundation has called for South Africa to find alternative markets for its export as US President Donald Trump forges ahead with his 30% tariff against the country's industries. Image: Henk Kruger/African News Agency(ANA) Apartheid's last president, FW De Klerk's foundation has added its voice in calling for South Africa to stop being overly reliant on America and look elsewhere for trade deals amid concerns over President Donald Trump's 30% tariffs on exports. In what could be seen as the country's population bending together against the economic squeezing tariffs, the foundation echoed DA leader John Steenhuisen in calling for the country to spread its wings wider, looking for alternative markets across the world. Steenhuisen, in his capacity as Agriculture minister, said recently that the country is strengthening its trade alliances with the likes of Chile, Peru, and New Zealand 'to jointly lobby for fair and stable trade treatment of fresh produce' through the Southern Hemisphere Association of Fresh Fruit Exporters. He also said the state had finalised new phytosanitary protocols for the export of avocados to China, table grapes to Vietnam and the Philippines, and maize to India. FW de Klerk Foundation's Ismail Joosub called for the strengthening of trading ties 'with our BRICS partners and Africa'. The foundation was concerned about the South African Reserve Bank warning that the tariffs could cost the country around 100,000 jobs, 'hitting our agriculture and automotive sectors the hardest.' Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading South Africa is a member of BRICS, which the US sees as a threat to its global economic and political dominance. 'China's vast market, for instance, can buy more of our minerals, wine, and fruits. 'India, Brazil, and others present growing export destinations if we proactively pursue them,' Joosub said in a statement. He issued the statement on Friday, the same day Trump implemented the tariffs, which he said would be effective on August 7. According to, Charles A. Ray, a chairperson of the US-based Foreign Policy Research Institute's African Program and former US ambassador to Cambodia and Zimbabwe, US was unhappy with South Africa's proximity to China and Russia and its membership with BRICS. He said it 'has since become an alternate political forum to the US-led West, seeking to shift the global order more to the advantage of China and to move away from the US dollar's domination of the global economy'. According to one of Trump's Executive Orders, South Africa was undermining the US's foreign policy and posed threats to the US and its allies' security and interests. 'Our government is already working with industry to find alternative markets for our goods and support affected sectors with contingency plans. 'We should build on this by ramping up trade promotion in Asia, the Middle East and across Africa. 'In short, if one door closes, we must be ready to open many others,' said Joosub. He said another step to protect and grow the economy was to invest in youth, skilling young people by taking advantage of an initiative that China has established through its Luban Workshops, which are vocational training centres in nearly 20 countries. 'South Africa should welcome such initiatives and even expand them here at home, [as] at last year's BRICS summit in Johannesburg, a BRICS Skills Challenge showcased how collaboration in fields like robotics, data science and aerospace can help our youth develop critical skills. 'Millions of talented South African youth remain on the margins, [so] we need to harness their potential through education, training and entrepreneurship support,' he said. Joosub also called for the country to look at technical exchange programs, scholarships, and joint research with programmes with China, India and others to help the country cultivate much-needed skills in engineering, artisans and the innovation sectors. 'By equipping young South Africans with world-class skills, we not only reduce unemployment but also make our economy more competitive globally. 'Our Constitution's preamble enjoins us to 'free the potential of each person, ' and there is no greater potential waiting to be freed than that of our youth,' he said. The foundation was concerned that unemployment was already at 32,9% and youth unemployment exceeded 46%. 'We cannot afford further blows. It's a stark reminder that nearly half of young South Africans struggle to find work,' he said. He said the US was punishing South Africa for its domestic policies, including affirmative action and Black Economic Empowerment, and the country's diplomatic stance on the Russia-Ukraine war and a genocide case against Israel, which he said the US views as creating barriers or running counter to its interests.
