The painful rise in fuel prices this week follows a long series of increases over the years. Historical data shows when the country faced its biggest price shocks, and how recent increases compare.

Tracking the petrol price over time

Figure 1 shows how the price of inland 93-octane petrol has risen since 1976, drawing on data from the Department of Mineral Resources and Energy.¹ The price was 21,1c per litre in January that year, rising to 54,2c in June 1979. For those wondering about the decimal places in these two amounts – yes, the petrol price was set at fractions of a cent in the old days!

The R1 per litre mark was reached in November 1985 and increased to R5 two decades later. The price then doubled in just three years, breaching the R10 level in 2008. Christmas cheer was dampened in December 2021 when motorists had to pay more than R20 per litre. The price eased from R26,31 in July 2022, only for April and May of 2026 to spoil the party. The new price set in May 2026 is the highest on record for inland 93-octane.

Historically, how bad are the recent increases?

One way to answer this question is to adjust the prices in Figure 1 to better reflect consumer prices in 2026. It is important to note that 10c in January 1980, for example, was far more valuable than 10c is today. Consumers could buy much more with that amount back then. An increase in petrol prices by 10c in 1980 (or a 4c rise in 1971, as shown here) would have been far more painful than a 10c rise today.

We can use the consumer price index (CPI) time series to convert historical prices into today’s money. This shows that 10c in January 1980 would be equivalent to R3,74 in 2026.

Applying this to the 50-year time series results in Figure 2, which shows historical petrol prices in 2026 rands. In terms of percentage change, April and May 2026 currently rank as the fifth- and sixth-largest increases in this period.²

Figure 2 shows that it’s been a bumpy ride overall, with large spikes in several years, notably in 1979, 1985, 1990 and 2008. Each increase has its own unique story.

1979: A triple blow

The Iranian Revolution sparked panic in global oil markets in 1979, driving oil prices higher. Motorists in South Africa were subjected to sharp price hikes in January, February and June. Commenting on the February petrol price increase, Dr Johan Cloete, chief economist at Barclays Bank, was quoted as saying:

“The impact of the new 20 percent price increases on fuel will be more like a tidal wave than merely ripple effects. Hardly a single item will escape the drenching.” ³

The June increase was the most severe, with inland 93-octane petrol rising by 15c from 39,2c to 54,2c per litre (an increase of R5,74 in 2026 rands). There was talk of possible fuel rationing.⁴ To conserve reserves, petrol stations were closed for a day. The government also imposed a 70 km per hour speed limit in what is now Gauteng.⁵

1985: Tantrums and traffic jams

Whereas global conflict drove fuel prices higher in 1979, a rapid depreciation in the rand triggered a painful spike almost six years later. The eye-watering 39,4% jump in January 1985 was the single largest increase over the 50 years in percentage terms. It came quite suddenly, with the Minister of Energy and Mineral Affairs announcing it on 23 January. The price would come into effect at midnight, rising by 25c a litre, from 63,5c to 88,5c (an increase of R4,94 in 2026 rands).⁶

Drivers flocked to petrol stations to fill up before midnight, resulting in long queues and traffic jams. Furious motorists reported that many petrol stations had closed early. Petrol stations in Johannesburg turned many away, claiming that a power failure had rendered their pumps useless.

The government attributed the bulk of the increase to the depreciation of the rand, with a reduced portion to be set aside for road maintenance and garage owners. Many commentators were unanimous in their criticism, with one political party stating that the increases were “absolutely excessive.” ⁷

There were many concerns over how the impact would spread. Motorists and farmers would feel the pain first, followed by commuters who would bear the brunt of higher taxi, bus, rail and air fares. Eventually, the higher prices would cause food inflation to trend higher. One economist warned that the excessive increase could push overall inflation above 16% by the middle of the year.⁷ According to Stats SA’s historical CPI time series, inflation reached 16,1% in May.⁸

1990: Painful but brief

The third largest single price increase in Figure 2 occurred half a decade later in October 1990. Iraq’s invasion of Kuwait on 2 August and the ensuing Gulf War disrupted global oil supply. Motorists suffered a double bruising, with petrol price increases in September and October.

Stats SA (then called the Central Statistical Service) noted in its November 1990 inflation report that overall inflation would have been 14,3% (lower than the published 15,3%) if petrol prices had remained stable.⁹ 

The spike was short-lived, however. Global oil prices quickly eased, and motorists experienced some relief as prices decreased in November and December.

2008: A steady creep

In contrast to the above, the notable spike in 2008 was due to a series of relatively smaller increases rather than a single blow. There were six consecutive hikes that year, mainly driven by record high global oil prices that reached over $145 per barrel.¹⁰ Discontent ensued, with one of South Africa’s trade unions staging rolling strikes against rising food and fuel costs.¹¹

The ups and downs of the petrol price

The increases mentioned above are not the whole story. There were also periods when the petrol price declined or remained stable. The reversal in the price after July 2008, for example, is striking. Oil prices rapidly cooled as the global financial crisis took hold. The petrol price tumbled to a low of R5,82 per litre in January 2009 from a peak of R10,50 in July 2008. It would take another two years before the price reached R10 again.

More recently, the price fell from the July 2022 peak of R26,31 to a low of R19,99 per litre in February 2026.

The above shows that although petrol prices have generally risen, they have also experienced rapid increases and notable downturns.

Notes and sources

¹ Note that there have been several grades of petrol and diesel available over the decades, set at different prices. 93-octane (reef/inland) petrol was chosen for this article, as it has the most consistent time series. From January 1976 to April 2000, prices for the leaded variety of 93-octane (reef/inland) were used above, followed by unleaded prices from May 2000. The leaded variety was phased out in January 2006.

A special thank you to the Department of Mineral Resources and Energy (DMRE) for the petrol price data, available on their website:

• March 1975 to May 2002: South African National Energy Database, Energy Prices – May 2002, Table 1 (download here).
• 2002, 2003 and 2004: available here, here and here.
• 2005 to 2026: this was originally available here under Comparing prices for petrol, diesel and illuminating paraffin (IP). The DMRE website now hosts the fuel price archive here.

² Note that the CPI adjustment was not done on the prices for April and May 2026, as the CPI for those months are not yet released. The percentage change values for both months might shift slightly if the adjustments are made with the CPI for April and May.

A great shout out to the South African History Online portal. The social and economic impact of historical petrol price increases were sourced from newspaper clippings available from their archive. Relevant clippings used in this article include:

• Prices General 1979 – 1980: Download here. Pages 20, 21, 36, 53, 55, 58.
• Prices General 1985: Download here. Pages 10, 14, 15, 16, 18, 19, 21, 27, 35, 45.
• Prices General 1988 – 1989: Download here. Pages 165, 167, 170, 188.
• Prices General 1989 – 1990: Download here. Pages 318, 320, 368, 382, 451.

Specific newspaper clippings quoted include:

³ The Star, ‘Petrol will cost 50c a litre this year’ [23 February 1979] (Prices General 1979 – 1980, pages 20 & 21).

⁴ Rand Daily Mail, Petrol rationing on the cards [9 June 1979] (Prices General 1979 – 1980, page 53).

⁵ Rand Daily Mail, Garages closed today [9 June 1979] (Prices General 1979 – 1980, page 53).

⁶ Rand Daily Mail, Petrol chaos hits reef [24 January 1985] (Prices General 1985, pages 17 & 18).

⁷ Cape Times, Petrol price ‘havoc’ [24 January 1985] (Prices General 1985, pages 14 & 15).

Other sources:

⁸ Stats SA, CPI History. March 2026. Table B2 (download here).

⁹ Central Statistical Service, Consumer Price Index, November 1990. Statistical News Release, page 2 (download here). 

¹⁰ BBC, Oil hits new high on Iran fears. [11 July 2008] (read here).

¹¹ Mail & Guardian, Unions protest over prices, Mbeki policies. [9 July 2008] (read here).

Similar articles are available on the Stats SA website and can be accessed here.

For a monthly overview of economic indicators and infographics, catch the latest edition of the Stats Biz newsletter here.