Could these latest fuel price increases push more EV-curious buyers into BEV ownership?
More momentum for BEVs?
FUEL PRICE PAIN FOR SPRINGTIME
Could these latest fuel price increases push more EV-curious buyers into BEV ownership?
For economists, one of the most difficult mediumterm predictions is the Rand exchange rate versus powerful currencies like the US Dollar, Euro and British Pound Sterling. But for much of 2026, oil prices and the resulting volatility in petrol and diesel prices have been much harder to predict for transport economists than the Rand exchange rate. South African consumers are especially exposed to fuel price volatility. The country has Africa’ s most sophisticated logistics network, but vast distances mean that diesel is the primary logistics fuel for trucking fleets. Petrol is still used in many minibus taxis, which are the mode of transport that most South Africans use to get to work daily.
Diesel and petrol prices influence everything that moves in South Africa. From heavy freight logistics to how the majority of South Africa’ s daily labour force gets to work. And even destination tourism. Many of South Africa’ s rural communities depend on diesel-powered double-cab bakkies and SUVs, to bring tourists from cities to rural areas for weekend getaways.
More momentum for BEVs?
The sharp increase in diesel prices will affect the cost of transporting almost every category of goods, from food to other essential items. It may also add to inflationary pressure, potentially presenting the South African Reserve Bank with difficult decisions on whether to hold or increase interest rates at its next Monetary Policy Committee meeting.
“ This will place even more strain on South Africans who are already under severe financial pressure. At the same time, high fuel prices are likely to sustain interest in new-energy vehicles, including hybrids, plug-in hybrid electric vehicles and battery-electric vehicles,” Cohen says.
With Chinese automakers bringing more ultra-affordable BEV models to the local market, another round of fuel price increases could create more demand for those sub-R400,000 BEVs A market segment where no legacy automaker has any presence, and all the available model options are Chinese.
The National Automobile Dealers’ Association( NADA) believes the September fuel price increases are telling. The R1.34 per litre increase in petrol and increases of up to R3.15 per litre in diesel are the highest fuel price increases seen since June 2026.
“ These increases will place further pressure on household budgets and raise operating and distribution costs across the economy. For motorists, fuel efficiency and the total cost of vehicle ownership will become even more important considerations when purchasing a vehicle,” says Brandon Cohen, Chairperson of NADA.
WORDS IN ACTION 20 SEPTEMBER 2026