South Africa's 95 gasoline price rises by 3.33 rand per liter on October 7, reaching a new high

智通财经2026/10/05 13:56

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South Africa's gasoline prices are set to reach a historic high as the latest wave of oil price shocks triggered by the Iran war begins to affect government-adjusted monthly fuel prices. According to an email statement from the South African Department of Mineral Resources and Energy, the price of 95-octane gasoline in Gauteng province will increase by 3.33 rand (0.20 dollars) per liter as of October 7. This price hike, which represents a 12% increase, will push gasoline prices up to a record-high 30.25 rand per liter. Wholesale diesel prices are also set to rise by up to 3.24 rand per liter. This development signals mounting global fuel price pressures, with African households likely to feel the impact more acutely. Due to the continent's reliance on road transport and insufficient public transportation, transportation expenses make up a higher proportion of household income in Africa. The rise in fuel prices could also increase pressure on the South African Reserve Bank to hike interest rates again in order to defend its 3% inflation target. Since the outbreak of the war at the end of February, sustained increases in fuel prices have pushed South Africa’s consumer price inflation up to 4.4%, prompting the central bank to raise interest rates twice so far this year.

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South African gasoline prices will reach a historic high as a new round of oil price shocks triggered by the Iran war is beginning to transmit to the government’s monthly fuel price adjustments. In an email statement, the Department of Mineral Resources and Energy announced that the price of 95-octane gasoline in Gauteng Province will be increased by 3.33 rand (0.20 US dollars) per liter on October 7. This 12% increase will push the gasoline price up to 30.25 rand per liter, setting a new record high. The wholesale price of diesel will rise by up to 3.24 rand per liter. This means global fuel prices will face upward pressure, but the impact may be more apparent for African households. Due to reliance on road transport and insufficient public transport, African households generally spend a higher proportion of their income on transportation. The surge in fuel prices may also add further pressure on the South African Reserve Bank to raise interest rates again in order to defend its 3% inflation target. Since the outbreak of the war at the end of February, the continual increase in fuel prices has driven South Africa’s consumer price rise to 4.4%, prompting the Reserve Bank to raise interest rates twice so far this year.

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