Will you pay more at the pumps? Official fuel prices for August revealed

Motorists will pay less for petrol from Wednesday, August 5, but diesel users are set to face a significant increase following the Department of Mineral and Petroleum Resources’ announcement of the official fuel price adjustments for August 2026,reportsPretoria Rekord. The latest adjustments, which take effect from Wednesday, August 5, will see both petrol grades decrease by 52 cents per litre, while diesel prices increase by up to R1.38 per litre. The Department said the fuel price adjustments were driven by a combination of international oil prices, global fuel supply dynamics, the rand exchange rate and changes to the slate levy.

The average Brent crude oil price declined from US$86.53 to US$82.37 per barrel during the review period. According to the department, concerns over renewed tensions between the United States and Iran briefly pushed oil prices higher, but these increases were offset by lower global demand and the continued impact of the ceasefire memorandum of understanding between the two countries. International petrol prices also declined during the month, contributing to lower petrol prices at the pumps.

Despite lower crude oil prices, diesel prices increased significantly due to international supply shortages. The department said Russia’s diesel export restrictions linked to the ongoing Russia-Ukraine conflict, together with reduced refinery output in the Middle East, pushed international diesel prices higher. These factors resulted in substantially higher contributions to the Basic Fuel Price for diesel and illuminating paraffin.

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The rand weakened slightly against the US dollar during the review period, depreciating from an average of R16.34 to R16.46 to the dollar. This added further upward pressure to the prices of petrol, diesel and illuminating paraffin. Motorists did receive some relief through a reduction in the slate levy.

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