August 2026 Fuel Price Forecast: Petrol and Diesel Prices Set for Another Cut in South Africa
August 2026 Fuel Price Forecast: Petrol and Diesel Prices Set for Another Cut in South Africa
South African motorists could see further petrol and diesel price cuts in August 2026. CEF data shows over-recoveries of up to 86 cents per litre. Read the full forecast.
More Relief at the Pumps?
South African motorists could be in for another welcome surprise at the pumps in August. Early data from the Central Energy Fund (CEF) points to further fuel price decreases — continuing the relief trend that began in July .
According to CEF data, over-recoveries of between 76 cents and 86 cents per litre for petrol are currently being recorded, while diesel is seeing a smaller over-recovery of about 20 cents per litre . If these conditions hold through the remainder of July, South Africans could see wholesale and retail prices drop when August adjustments are calculated .
The potential cuts come on the heels of substantial decreases implemented in July, driven by lower international oil prices following a truce between the US and Iran, combined with a stronger rand .
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Current Over-Recovery Figures
According to the CEF’s latest daily data (as of early July 2026), here are the projected price changes for August 2026 :
| Fuel Type | Predicted Decrease |
|---|---|
| Petrol 93 | 224 – 288 cents per litre (R2.24 – R2.88) |
| Petrol 95 | 223 – 287 cents per litre (R2.23 – R2.87) |
| Diesel 0.05% | 259 – 380 cents per litre (R2.59 – R3.80) |
| Diesel 0.005% | 300 – 431 cents per litre (R3.00 – R4.31) |
| Illuminating Paraffin | 291 – 425 cents per litre (R2.91 – R4.25) |
Note: The CEF figures are not final and are subject to change. The price of fuel is typically adjusted on the first Wednesday of a new month — in this case, Wednesday, 5 August 2026 . The CEF will continue to provide daily snapshots until a day or two before the official announcement .
Why Are Prices Falling?
Lower International Oil Prices
The primary driver behind the potential price drop is the ongoing stabilization of international oil prices. Following the June truce between the US and Iran, Brent crude oil has hovered around $72 per barrel, significantly lower than the highs experienced earlier in the year .
Stronger Rand
A stronger rand/dollar exchange rate has also contributed to the positive outlook, as the rand’s performance directly impacts the final fuel price calculation .
The Caveat: Still Higher Than Early 2026
Despite the anticipated cuts, it’s important to keep perspective. Fuel remains significantly more expensive than it was before the price spike earlier this year .
- 95 Unleaded petrol still costs R5.76 more than it did in March 2026
- 50ppm diesel is R6.57 more expensive than it was in March 2026
Current prices (as of July 2026):
| Fuel Type | Coast | Gauteng (Inland) |
|---|---|---|
| 95 Unleaded | R25.23/litre | R26.11/litre |
| 93 Unleaded | – | R25.94/litre |
| 500ppm Diesel | R23.91/litre (wholesale) | R24.78/litre (wholesale) |
| 50ppm Diesel | R24.41/litre (wholesale) | R25.16/litre (wholesale) |
*Source: Central Energy Fund (CEF) *
The Full Picture: 2026 Fuel Price Timeline
| Period | Event |
|---|---|
| March 2026 | Last “normal” month for fuel prices |
| April – June 2026 | Severe increases: petrol up R7.72, diesel up R10.16 |
| July 2026 | Substantial cuts of 196–359 cents, driven by US-Iran truce |
| August 2026 | Forecast: Further cuts of 223–431 cents (if trends hold) |
How Fuel Prices Are Determined in South Africa
South Africa’s fuel prices are adjusted monthly based on two main factors :
- The international price of petroleum products, driven primarily by global oil prices
- The rand/dollar exchange rate, used in the purchase of these products
The Department of Mineral and Petroleum Resources (DMPR) tracks these factors daily through the Central Energy Fund, allowing for early predictions like those above .
FAQ – August 2026 Fuel Price Forecast
Will fuel prices decrease in August 2026?
Early indications suggest yes. CEF data shows over-recoveries of 76–86 cents per litre for petrol, pointing to potential decreases of over R2 per litre .
When will the August 2026 fuel price be announced?
The new fuel price takes effect on the first Wednesday of the month — Wednesday, 5 August 2026. Official confirmation usually comes a day or two before .
Why are fuel prices dropping?
Lower international oil prices (Brent crude around $72 per barrel) and a stronger rand are the main drivers .
How much will diesel drop in August?
Early projections range from 259 to 431 cents per litre (R2.59 – R4.31) depending on the grade .
Are fuel prices back to normal?
No. Despite the cuts, 95 Unleaded is still R5.76 more expensive than it was in March 2026 .
Final Thoughts
August 2026 is shaping up to be another positive month for South African motorists, with early data pointing to fuel price cuts of over R2 per litre.
Key takeaways:
- Petrol projected to drop by 223–288 cents per litre
- Diesel projected to drop by 259–431 cents per litre
- Driven by lower oil prices (~$72/barrel) and a stronger rand
- Prices remain significantly higher than pre-April 2026 levels
- Official announcement expected by 5 August 2026
Watch this space — we’ll update you when the final figures are confirmed.
