{"id":27054,"date":"2026-03-09T07:30:20","date_gmt":"2026-03-09T07:30:20","guid":{"rendered":"https:\/\/microvibenews.com\/?p=27054"},"modified":"2026-03-09T07:30:20","modified_gmt":"2026-03-09T07:30:20","slug":"oil-shock-brace-for-r5-l-to-over-r8-l-sa-fuel-spike","status":"publish","type":"post","link":"https:\/\/microvibenews.com\/?p=27054","title":{"rendered":"Oil shock: Brace for R5\/l to over R8\/l SA fuel spike"},"content":{"rendered":"<p><\/p>\n<div id=\"textFreeArticle\">\n<p>It\u2019s a fluid situation \u2013 but the oil price spike to over $115 a barrel on Monday morning, is set to be a major shock to world markets, fuel prices and ultimately the pockets of ordinary South Africans.<\/p>\n<p>Speaking to Moneyweb, Stanlib chief economist Kevin\u00a0Lings now calculates that at a global oil price of $120, SA\u2019s under-recovery in the petrol price would \u201cjump to around R5.40\/l and R10\/l for diesel\u201d. \u00a0This will mean an even sharper increase in April if oil stays at current levels and rand weakness continues.<\/p>\n<p>Read:<br \/>Oil soars toward $120 as Iran war forces more production cuts<br \/>Over R2trn JSE wipeout<\/p>\n<p>\u201cAt $100 a barrel, the petrol price under recovery is around R4.50\/l and diesel at about R8.30\/l,\u201d says Lings.<\/p>\n<p>The above calculations exclude the inflation-linked increases in fuel levies announced by Finance Minister Enoch Godongwana in the 2026 Budget in February.<\/p>\n<div class=\"visible-sm-block visible-xs-block m1010\">\n<div class=\"ad-container-wrapper\">\n<p>ADVERTISEMENT<\/p>\n<p>CONTINUE READING BELOW<\/p>\n<\/div>\n<\/div>\n<blockquote>\n<p>\u201cThe big question is how long does it [global oil prices] stay there, or does it go higher? SA fuel price increases are determined by the monthly average under recovery,\u201d says Lings.<\/p>\n<\/blockquote>\n<p>He warned last week of the current \u2018massive\u2019 under-recovery in the petrol and diesel price, in the wake of the Middle East conflict. That was when the Brent crude price spiked to just below $80 a barrel, and the forecast under-recovery was between R2 to R4 a litre.<\/p>\n<p>Read:<br \/>Government \u2018closely watching\u2019 the oil price and jet fuel situation \u2013 Creecy<br \/>April fuel prices set to rocket<\/p>\n<p>In an X post on Monday, noted market analyst Keith McLachlan warned: \u201cOil at &gt;$100 is a systemic shock to the global economy, like a global central banker doubling global interest rates.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Oil price at &gt;$80 is mixed with some sectors benefiting and some not. Oil at &gt;$100 is a systemic shock to the global economy like a global central banker doubling global interest rates.<\/p>\n<div class=\"visible-sm-block visible-xs-block m1010\">\n<div class=\"ad-container-wrapper\">\n<p>ADVERTISEMENT:<\/p>\n<p>CONTINUE READING BELOW<\/p>\n<\/div>\n<\/div>\n<p>\u2014 Keith McLachlan (@keithmclachlan) <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/keithmclachlan\/status\/2030864075782279250?ref_src=twsrc%5Etfw\">March 9, 2026<\/a><\/p>\n<\/blockquote>\n<p>The shock is set to fuel inflation in SA, with several economists including Lings saying interest rates cuts forecast at the start of the year are now off the table, and there could in fact be rate hikes depending on how long the Middle East crisis lasts.<\/p>\n<p>\u201cThe length and area of the conflict is key to how much this affects the world,\u201d McLachlan tells Moneyweb.<\/p>\n<p>Listen\/read:<\/p>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><script data-cfasync=\"false\">\n            !function(f,b,e,v,n,t,s)\n            {if(f.fbq)return;n=f.fbq=function(){n.callMethod?\n                n.callMethod.apply(n,arguments):n.queue.push(arguments)};\n                if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';\n                n.queue=[];t=b.createElement(e);t.async=!0;\n                t.src=v;s=b.getElementsByTagName(e)[0];\n                s.parentNode.insertBefore(t,s)}(window, document,'script',\n                'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\n            fbq('init', '779812924991616');\n            fbq('track', 'PageView');\n        <\/script>#Oil #shock #Brace #R5l #R8l #fuel #spike<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s a fluid situation \u2013 but t&hellip; <\/p>\n","protected":false},"author":1,"featured_media":27055,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[2414,5277,364,15405,15406,12521,14578],"_links":{"self":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts\/27054"}],"collection":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27054"}],"version-history":[{"count":0,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts\/27054\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/media\/27055"}],"wp:attachment":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}