- Fuel prices rise from 7 October.
- Petrol up R3.12 (93) and R3.33 (95).
- Diesel up about R2.84 to R3.24 per litre.
- 50-litre fill costs R156 to R166.50 more.
- Prime lending rate now at 10.75%.
The National Automobile Dealers’ Association (NADA) says October’s fuel price increases will put further pressure on household budgets. Motorists, commuters and businesses are already managing higher living and borrowing costs, and the association says the new prices will make vehicle ownership and daily travel harder to afford for many South Africans.
October petrol and diesel price increases
From 7 October, petrol rises by R3.12 per litre for 93 octane and R3.33 for 95 octane. Wholesale diesel increases by approximately R2.84 and R3.24 per litre for the respective sulphur grades. For a motorist buying 50 litres of petrol, the adjustment adds between R156 and R166.50 to each fill.
“The journey to work does not get shorter when fuel becomes more expensive,” says Thembinkosi Pantsi, Vice Chairperson of NADA. “Households have to find that additional money within budgets that are already stretched.”
Impact on taxi commuters and businesses
The effect reaches people who do not own vehicles. Many South Africans rely on minibus taxis, particularly where reliable public transport is limited, and NADA says higher fuel costs for taxi operators could lead to higher fares for commuters who can least afford them.
Higher diesel prices also raise operating costs for businesses that transport goods, make deliveries or provide services. Where these costs cannot be absorbed, they may feed through into consumer prices.
Inflation and interest rates add to pressure
Annual headline consumer inflation was 4.4% in August, while transport inflation was 8.8%. Both readings predate the October fuel increase. The Reserve Bank’s September decision to raise the policy rate by 25 basis points to 7.25%, taking prime to 10.75%, has also increased financing costs.
NADA says September’s stronger new-vehicle sales gave an encouraging foundation for the final quarter, but the late-September rate increase and the October fuel adjustment are not yet fully reflected in those figures. Sustaining the momentum will require continued attention to affordability.
NADA advice for car buyers and motorists
“A manageable monthly instalment does not necessarily mean that a vehicle is affordable,” Pantsi says, adding that buyers should consider what a vehicle will cost to finance, fuel, insure, service and maintain based on their actual travel needs. NADA encourages motorists to maintain recommended tyre pressures, drive smoothly where possible and keep up with essential servicing, and says dealers can help customers match vehicles and finance options to their circumstances.
Supplied by MotorPress (Ilana Salant, Media Contact, Meropa Communications)
This story is based on aggregated news, press release(s) or other sources and was prepared with the help of AI tools, which can make mistakes. Prices, specifications, general information and availability may change, so confirm the details with the manufacturer, other news sources or a dealer.