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Oil Price

Latest news & developments
Mineral & petroleum resources minister Gwede Mantashe. Picture:

Mantashe aims for 60-day strategic fuel reserve buffer against shocks

Government seeks larger petroleum stockpile as geopolitical risks intensify

Mineral and petroleum resources minister Gwede Mantashe.

Official visit to Strait of Hormuz on the cards, says Gwede Mantashe

Mineral and petroleum resources minister wants first-hand knowledge of the situation

Emergency responders assisted by other people and heavy machinery inspect the site of an Israeli strike in Saksakiyeh, Lebanon, on May 9 2026. Picture:

Iran says it has responded to US proposal to end war

LNG tanker passes Hormuz safely as ceasefire strains and diplomacy stalls

Motorists are set for further relief with the reduction in the fuel levy for petrol extended to June 2, while the surcharge for diesel will be temporarily halted.

Govt extends fuel reduction levy on petrol, cuts diesel surcharge to zero

Motorists face further hefty fuel price increases despite government interventions

Canada's Prime Minister Mark Carney. File photo.

What Mark Carney’s election victory means for Canada

Defections boost Carney's Liberals to parliamentary majority

US President Donald Trump at the White House in Washington, DC, the US, on April 1 2026. Picture: REUTERS

Deadline is final, says Trump after Iran shuns ceasefire plan

US president threatens to ‘rain hell’ on Tehran if Strait of Hormuz is not reopened on Tuesday

A committee is expected to present proposed relief measures to the government of national unity at an ordinary meeting on Wednesday.

Cabinet to weigh further fuel relief to ease looming cost of living spike

Gwede Mantashe 'will continue to review fuel pricing' after suspension of fuel levy

Some motorists have been bulk buying fuel.

Government cuts general fuel levy by R3 hours before steep monthly price hikes

Relief will last until May 5

A Prasa train.

Prasa talks rail revival as fuel price hikes ‘highlight need for better public transport’

Private vehicle owners face steep price hikes.

Minister Gwede Mantashe. File picture.

Fuel price hikes becoming ‘increasingly unavoidable’, warns Gwede Mantashe

The minister says SA is endowed with significant offshore petroleum potential

Government downplays possible SA fuel shortage - but warns of April hikes

Public reassured on supply security even as analysts warn of deeper structural vulnerabilities.