South Africa: Mineral Resources Minister Adjusts Fuel Prices

[MEDIA STATEMENT] MINISTER OF MINERAL AND PETROLEUM RESOURCES ANNOUNCES FUEL PRICE ADJUSTMENT EFFECTIVE 7 OCTOBER 2026 62 The Minister of Mineral and Petroleum Resources hereby announces the adjustment of fuel prices based on current local and international factors with effect from the 7 th of October 2026. Msizi Nyalungu / Monday, October 5, 2026 / Categories: Media statements Media Statement – Fuel Price Adjustments for October 2026 THE MINISTER OF MINERAL AND PETROLEUM RESOURCES ANNOUNCES ADJUSTMENT OF FUEL PRICES EFFECTIVE FROM THE 7 TH OF OCTOBER 2026 The Minister of Mineral and Petroleum Resources hereby announces the adjustment of fuel prices based on current local and international factors with effect from the 7 th of South Africa’s fuel prices are adjusted monthly, informed by international and local factors. International factors include the fact that South Africa imports both crude oil and finished products at a price set at the international level, including importation costs, e.g., shipping costs. The main reasons for the fuel price adjustments are as follows: The average Brent Crude oil price increased from 87.89 US Dollars (USD) to 101 USD during the period under review. The increase is due to the continued US/Iran tensions, uncertainty regarding the flow of oil through the Strait of Hormuz, higher shipping costs and decreasing inventories. 2. International petroleum product prices The average international product prices of petrol, diesel and illuminating paraffin increased due to supply shortages caused by lower global inventories of products. These factors led to higher contributions to the Basic Fuel Prices (BFP) of petrol, diesel and illuminating paraffin by 329.07 cents per litre (c/l) 280.17 c/l and 357.23 Media Statement – Fuel Price Adjustments for October 2026 c/l, respectively. The prices of Propane and Butane also increased during the period under review due to supply uncertainties. 3. Rand/US Dollar exchange rate The Rand appreciated slightly on average, against the US Dollar (from 16.213 to 16.212 Rand per USD) during the period under review when compared to the previous one. This led to lowerer contributions to the Basic Fuel Prices of petrol, diesel and Illuminating Paraffin by 0.17 c/l, 0.22 c/l and 0.21 c/l respectively. 4. Implementation of the Slate Levy The cumulative slate amounted to a negative balance of R10.45 billion for petrol and diesel of at the end of August 2026. In line with the provisions of the Self Adjusting Slate Levy Mechanism, the slate levy of 87.66 c/l will be implemented in the price structures of petrol and diesel with effect from the 2 nd of September 2026. The Slate Levy has increased by 4.38 c/l from 83.28 to 87.66 c/l . 5. Octane differentials between 95 and 93 petrol grades In line with the Working Rules to determine the Basic Fuels Prices (BFP), the 95 Octane (unleaded) grade is the price-marker grade and the BFP-differential between 95 and 93 Octanes is adjusted on the first Wednesday of each quarter. The BFP Octane differential has changed during the previous quarter and therefore the retail prices of 95 and 93 petrol octanes will be different in each fuel pricing zone with effect from the 7 th of October 2026. 6. The Maximum Refinery Gate Price (MRGP) for LPGas that is imported through the Port of Saldanha Bay in the Western Cape province. The Maximum Refinery Gate Price (MRGP) and the Maximum Retail Price (MRP) of LPGas that is imported through the Port of Saldanha Bay will be R 15 525.62 per metric ton and R 37.08 per kilogram, respectively, effective from the 7th of October 2026. Media Statement – Fuel Price Adjustments for October 2026 Based on current local and international factors, the fuel prices for October 2026 will be adjusted as follows : ❖ Petrol 93 (ULP & LRP): Three hundred and twelve cents per litre (312.000 c/l) ❖ Petrol 95 (ULP &LRP): Three hundred and thirty-three cents per litre (333.000 ❖ Diesel (0.05% sulphur): Two hundred and eighty-four