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March fuel price hike confirmed as petrol and diesel costs climb again
If you have filled up recently and felt that familiar knot in your stomach, brace yourself. South African motorists are heading into March with another fuel price increase looming, and this time it is heavier than many expected.
Month-end data from the Central Energy Fund paints a sobering picture. Fuel price recoveries have slipped deeper into negative territory, which effectively locks in increases when the new prices take effect on Wednesday, 4 March 2026.
For households already juggling groceries, school fees, and rising municipal bills, it is another unwelcome adjustment.
What motorists can expect at the pumps
Based on the latest data, petrol recoveries are sitting between negative 18 cents and negative 21 cents per litre. Diesel recoveries are even worse, ranging between negative 62 cents and negative 65 cents per litre.
That translates into the following expected increases:
-
Petrol 93: up by 18 cents per litre
-
Petrol 95: up by 21 cents per litre
-
Diesel 0.05 percent wholesale: up by 62 cents per litre
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Diesel 0.005 percent wholesale: up by 65 cents per litre
-
Illuminating paraffin: up by 45 cents per litre
The Department of Petroleum and Mineral Resources is expected to confirm the official adjustments in the coming days, but the numbers already point strongly in one direction.
For diesel users, especially logistics companies and farmers, the increase is particularly significant. Diesel underrecoveries have been hit harder, which could ripple into higher transport and food costs down the line.
Expected fuel price changes: March 2026
| Fuel type | Expected change |
|---|---|
| Petrol 93 | +18 cents per litre |
| Petrol 95 | +21 cents per litre |
| Diesel 0.05% wholesale | +62 cents per litre |
| Diesel 0.005% wholesale | +65 cents per litre |
| Illuminating paraffin | +45 cents per litre |
Why oil prices are climbing again
The biggest culprit behind the weaker recoveries is the global oil price. At the start of the year, oil was trading below 58 dollars a barrel. Since then, it has climbed sharply and is now hovering around 72 dollars a barrel.
Tensions between the United States and Iran have unsettled markets. The United States has built up a strong military presence in the Middle East, raising fears of potential conflict. Although the two countries have agreed to further nuclear talks next week, markets remain cautious.
Oil traders are also watching the upcoming OPEC+ supply meeting closely. Uncertainty around supply and geopolitical risk is keeping prices elevated.
For South Africa, which imports its refined petroleum products, higher global prices feed directly into local pump costs.
The rand offers some relief, but not enough
There is one silver lining. The rand has shown notable resilience.
Following the 2026 Budget Speech delivered by Finance Minister Enoch Godongwana, markets responded positively. Analysts viewed the budget as a sign of continued commitment to fiscal stability. At one point, the rand strengthened to around R15.83 to the dollar and has since settled near R15.90.
This places the currency in what analysts describe as its fair value range and at its strongest level against the dollar in nearly four years.
A stronger rand helps cushion import costs. In fact, it has offset around 18 cents per litre of the pressure from higher international product prices. However, global oil price increases have contributed roughly negative 36 cents per litre to petrol recoveries and around negative 83 cents per litre to diesel recoveries. The currency simply cannot absorb all of that impact.
Another blow coming in April
As if March were not enough, motorists should also prepare for April. During the Budget Speech, Godongwana announced a 21-cent per litre increase in fuel taxes. That adjustment will be added to both petrol and diesel prices from next month.
On social media, frustration has already started bubbling. Many South Africans are questioning how long household budgets can stretch as fuel, electricity, and food costs edge upward together. Others have pointed out that while the stronger rand is welcome, it offers only partial relief in a market driven by global forces beyond the country’s control.
For now, the advice is simple: if you need to fill up, consider doing so before the new prices kick in on 4 March. Every cent counts.
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Source: Business Tech
Featured Image: Daily Investor
