The Department of Mineral and Petroleum Resources has announced fuel price adjustments that will take effect from Wednesday, 3 June 2026, with petrol set to increase while diesel and other fuels are expected to decrease.
The department stated that the changes are driven by a combination of international oil market pressures, exchange rate movements, and the implementation of the slate levy.
Brent crude oil prices rose from 101 US dollars (R1 640,79) to 104.59 US dollars (R1 699,37) during the review period, largely due to ongoing geopolitical tensions involving the United States and Iran and disruptions linked to the Strait of Hormuz. However, lower international product prices, especially for diesel, and a stronger rand partially offset global pressures.
“The main reasons for the fuel price adjustments include changes in crude oil prices, international product prices, and exchange rate movements,” the department said in a statement.
Despite global volatility, the rand appreciated slightly from R16.65 to R16.52 against the US dollar, helping reduce some fuel cost pressures.
A major contributor to the final price changes is the slate levy, which has increased from 122.70 cents to 157.74 cents per litre following a cumulative negative balance of R18.28 billion.
At the same time, government has reduced the general fuel levy temporarily to cushion consumers, with relief measures effective until 30 June.
“The slate levy mechanism is implemented to recover historical under-recoveries in the fuel pricing system,” the department added.
From next week, petrol 93 and 95 will increase by R1,43 cents per litre, while diesel will drop by up to R3.25 cents per litre, offering relief to transport operators and consumers dependent on diesel.
Photo: Pexels
