Africa-Press – South-Africa. President Cyril Ramaphosa said that he and Finance Minister Enoch Godongwana have sleepless nights over the big petrol price increase on Wednesday.
Ramaphosa made these statements during his closing address at the ANC Limpopo elective conference on Sunday, 29 March 2026.
The latest estimates suggest that petrol prices will increase by approximately R6 per litre and diesel by around R10 per litre.
These high fuel price increases are driven by the ongoing conflict in the Middle East, which has pushed oil prices higher and weakened the rand.
The conflict and closure of the Strait of Hormuz pushed Brent Crude oil prices from roughly $69 to over $115 per barrel.
The Rand has slipped significantly against the US Dollar, weakening from R15.85 to well above R17.00.
Although these factors are beyond the control of the South African government, their effect on the local economy is significant.
Higher fuel prices will put pressure on consumers, including increased travelling costs and higher prices on many products.
This, in turn, will lead to inflation and a potential interest rate hike. This will hurt the country’s economic growth, which is already anemic.
Ramaphosa said the ANC is directing the government to address higher petrol and diesel prices.
“They must see how best they can address the challenges that South Africans are now going to face as the price of petrol and diesel goes up,” he said.
“Finance Minister Enoch Godongwana told me that he is having sleepless nights over what is happening. I told him I am not sleeping at all.”
Ramaphosa said he has instructed Godongwana and his colleagues to address this matter and develop solutions to reduce the impact of the fuel price increases.
For More News And Analysis About South-Africa Follow Africa-Press
