South Africa Brent Crude Oil Price: US Dollar data was reported at 72.820 USD in Aug 2018. This records a decrease from the previous number of 74.240 USD for Jul 2018. South Africa Brent Crude Oil Price: US Dollar data is updated monthly, averaging 19.340 USD from Jan 1960 (Median) to Aug 2018, with 704 observations. The data reached an all-time high of 133.860 USD in Jul 2008 and a record low of 2.140 USD in Aug 1966. South Africa Brent Crude Oil Price: US Dollar data remains active status in CEIC and is reported by South African Reserve Bank. The data is categorized under Global Database’s South Africa – Table ZA.P005: Brent Crude Oil Price.

In 2023, overseas purchases of crude petroleum oil increased by 18% to 7.3M tons for the first time since 2020, thus ending a two-year declining trend.

Brent fell to 63.05 USD/Bbl on December 2, 2025, down 0.19% from the previous day. Over the past month, Brent's price has fallen 2.84%, and is down 14.36% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Brent crude oil - values, historical data, forecasts and news - updated on December of 2025.

China Import Price: Crude Oil: Africa: South Sudan data was reported at 534.950 USD/Ton in Mar 2025. This records a decrease from the previous number of 630.569 USD/Ton for Oct 2024. China Import Price: Crude Oil: Africa: South Sudan data is updated monthly, averaging 460.273 USD/Ton from Jun 2012 (Median) to Mar 2025, with 107 observations. The data reached an all-time high of 5,675.556 USD/Ton in Jun 2012 and a record low of 173.482 USD/Ton in Feb 2016. China Import Price: Crude Oil: Africa: South Sudan data remains active status in CEIC and is reported by CEIC Data. The data is categorized under China Premium Database’s Price – Table CN.PH: Crude Oil Import and Export Price.

Crude Oil Production in South Africa remained unchanged at 0.50 BBL/D/1K in July. This dataset provides - South Africa Crude Oil Production - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Price for Crude Oil and Processed Petroleum in South Africa - 2023. Find the latest marketing data on the IndexBox platform.

For the fourth year in a row, South Africa recorded growth in overseas shipments of crude soybean oil, which increased by 21% to 72K tons in 2023.

On October 27, 2025, the Brent crude oil price stood at 65.14 U.S. dollars per barrel, compared to 61.31 U.S. dollars for WTI oil and 67.54 U.S. dollars for the OPEC basket. Oil prices rose slightly that week.Europe's Brent crude oil, the U.S. WTI crude oil, and OPEC's basket are three of the most important benchmarks used by traders as reference for global oil and gasoline prices. Lowest ever oil prices during coronavirus pandemic In 2020, the coronavirus pandemic resulted in crude oil prices hitting a major slump as oil demand drastically declined following lockdowns and travel restrictions. Initial outlooks and uncertainty surrounding the course of the pandemic brought about a disagreement between two of the largest oil producers, Russia and Saudi Arabia, in early March. Bilateral talks between global oil producers ended in agreement on April 13th, with promises to cut petroleum output and hopes rising that these might help stabilize the oil price in the coming weeks. However, with storage facilities and oil tankers quickly filling up, fears grew over where to store excess oil, leading to benchmark prices seeing record negative prices between April 20 and April 22, 2020. How crude oil prices are determined As with most commodities, crude oil prices are impacted by supply and demand, as well as inventories and market sentiment. However, as oil is most often traded in future contracts (where a contract is agreed upon while product delivery will follow in the next two to three months), market speculation is one of the principal determinants for oil prices. Traders make conclusions on how production output and consumer demand will likely develop over the coming months, leaving room for uncertainty. Spot prices differ from futures in so far as they reflect the current market price of a commodity.

The size of the South Africa Petroleum Market market was valued at USD 8.30 Million in 2023 and is projected to reach USD 9.04 Million by 2032, with an expected CAGR of 1.23% during the forecast period. Recent developments include: February 2023: Astron Energy, a subsidiary of Glencore, has announced plans to reopen the Cape Town oil refinery based on a compelling commercial rationale. The company is fully dedicated to restarting the refinery and is progressing with the required work to achieve this objective., November 2022: the Mineral Resources and Energy Ministry of South Africa reached out to Saudi Aramco to explore the possibility of rekindling their interest in constructing a refinery within the country. The proposal entails the establishment of a new crude oil refinery on the East Coast, with a projected capacity of 300,000 barrels per day. The targeted timeline for the refinery to become operational is by 2028. The estimated cost for this venture is approximately USD 10 billion.. Key drivers for this market are: Increasing Consumption Of Petroleum Products. Potential restraints include: Fluctuating Crude Oil Prices, Adoption of Cleaner Alternatives In Transportation. Notable trends are: Automotive Gas Oil (AGO) to Dominate the Market.

The 2025 annual OPEC basket price stood at ***** U.S. dollars per barrel as of August. This would be lower than the 2024 average, which amounted to ***** U.S. dollars. The abbreviation OPEC stands for Organization of the Petroleum Exporting Countries and includes Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. The aim of the OPEC is to coordinate the oil policies of its member states. It was founded in 1960 in Baghdad, Iraq. The OPEC Reference Basket The OPEC crude oil price is defined by the price of the so-called OPEC (Reference) basket. This basket is an average of prices of the various petroleum blends that are produced by the OPEC members. Some of these oil blends are, for example: Saharan Blend from Algeria, Basra Light from Iraq, Arab Light from Saudi Arabia, BCF 17 from Venezuela, et cetera. By increasing and decreasing its oil production, OPEC tries to keep the price between a given maxima and minima. Benchmark crude oil The OPEC basket is one of the most important benchmarks for crude oil prices worldwide. Other significant benchmarks are UK Brent, West Texas Intermediate (WTI), and Dubai Crude (Fateh). Because there are many types and grades of oil, such benchmarks are indispensable for referencing them on the global oil market. The 2025 fall in prices was the result of weakened demand outlooks exacerbated by extensive U.S. trade tariffs.

The average crude rapeseed oil export price stood at $1,007 per ton in March 2025, leveling off at the previous month.

Discover the latest insights into the South African petroleum market's growth trajectory (2025-2033), including market size, CAGR, key players (TotalEnergies, Engen, Sasol), and influential trends impacting refined products like diesel and gasoline. Explore the challenges and opportunities within this dynamic sector. Recent developments include: February 2023: Astron Energy, a subsidiary of Glencore, has announced plans to reopen the Cape Town oil refinery based on a compelling commercial rationale. The company is fully dedicated to restarting the refinery and is progressing with the required work to achieve this objective., November 2022: the Mineral Resources and Energy Ministry of South Africa reached out to Saudi Aramco to explore the possibility of rekindling their interest in constructing a refinery within the country. The proposal entails the establishment of a new crude oil refinery on the East Coast, with a projected capacity of 300,000 barrels per day. The targeted timeline for the refinery to become operational is by 2028. The estimated cost for this venture is approximately USD 10 billion.. Key drivers for this market are: 4., Increasing Consumption Of Petroleum Products. Potential restraints include: 4., Increasing Consumption Of Petroleum Products. Notable trends are: Automotive Gas Oil (AGO) to Dominate the Market.

In February 2023, the palm oil price fell by -7% to $951 per ton (CIF, South Africa), compared with the previous month.

In 2024, the South African crude maize oil market decreased by -6.2% to $124M, falling for the second consecutive year after two years of growth. In general, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $150M. From 2023 to 2024, the growth of the market remained at a somewhat lower figure.

12 Global import shipment records of Crude,oil with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

Consumers in Central African Republic paid the highest price for gasoline in Africa as of April 2025. One liter of the fuel cost on average 1.9 U.S. dollars in the country. In Senegal, the retail price for gasoline octane-95 reached on average 1.71 U.S. dollars per liter, the second-highest on the continent. On the other hand, consumers living in traditional crude oil producers in Africa, such as Nigeria, Algeria, Angola, Libya, and Egypt spent less money on gasoline. For instance, one liter cost 0.03 U.S. dollar in Libya, among the cheapest in the world.

The size of the Africa Fats and Oil Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 4.49% during the forecast period. The Africa fats and oils market encompasses the production, processing, distribution, and consumption of edible fats and oils across the African continent. This market includes a diverse range of products derived from both vegetable and animal sources, such as palm oil, soybean oil, sunflower oil, canola oil, and animal fats. In Africa, palm oil is a dominant component due to its widespread cultivation in countries like Nigeria, Ghana, and Côte d'Ivoire, where it plays a crucial role in local diets and economies. Soybean oil and sunflower oil are also significant, driven by both domestic production and imports to meet the growing demand for edible oils. The market is influenced by factors such as population growth, urbanization, and changing dietary preferences, which increase the demand for processed and convenience foods. Additionally, the market is impacted by agricultural practices, trade policies, and economic conditions, which affect the supply chain and pricing of fats and oils. Regional variations exist within the market, with different countries focusing on specific oil types based on local agricultural resources and consumption habits. As the market evolves, stakeholders are focusing on enhancing production efficiency, sustainability, and meeting the diverse needs of a rapidly changing consumer base. Recent developments include: March 2023: Wilmar International Ltd (WILMAR) initiated the construction of an edible oil plant located in Richards Bay, KwaZulu-Natal, South Africa. This USD 81 million project encompasses the development of a fractionator, a shortening plant, and a packaging facility. Notably, this endeavor commenced in 2020., July 2022: Eni introduced the first vegetable oil production facility for biorefining in Kenya. This venture involved the establishment of an oilseed collection and pressing plant, which marked the inception of vegetable oil production for bio-refineries., June 2021: WA Group made a substantial investment of USD 114 million in a processing plant aimed at boosting edible oil production in Ethiopia. This strategic investment enabled the company to cease importing edible oils and, instead, focus on refining crude palm oil sourced from other countries, as well as processing locally cultivated oilseeds such as sesame seeds, peanut seeds, niger seeds, soya beans, and haricot beans.. Key drivers for this market are: Wide Applications of Oils and Fats in Different End-Use Industries, Government Initiatives and Key Players Adopting Innovative Market Expansion Strategies. Potential restraints include: Volatility in Imports and Supply Chain of Oils. Notable trends are: Wide Applications of Oils and Fats in Different End-Use Industries.

The Africa fats and oils market, valued at approximately $XX million in 2025, is projected to experience robust growth, driven by a compound annual growth rate (CAGR) of 4.49% from 2025 to 2033. This expansion is fueled by several key factors. Firstly, the rising population and increasing urbanization across the continent are boosting demand for processed foods and beverages, significantly impacting the consumption of oils and fats in the food and beverage sector. The burgeoning food processing industry, coupled with changing consumer preferences towards convenient and ready-to-eat meals, further contributes to this growth. Secondly, the animal feed industry's expansion, particularly poultry and livestock farming, requires substantial quantities of fats and oils, fueling market demand. Finally, the growing use of vegetable oils in industrial applications like cosmetics and biofuels is also playing a significant role. While challenges exist, such as price volatility in raw materials and competition from imported oils, the overall market outlook remains positive. However, certain restraints are anticipated to moderate market growth. Fluctuations in crude oil prices directly impact the cost of production, potentially affecting market prices. Moreover, the prevalence of traditional cooking methods and preferences for locally produced oils might hinder the market penetration of certain imported oils. Furthermore, regulatory changes concerning food safety and labeling can pose challenges to market players. Despite these limitations, the market is expected to thrive, driven by favorable demographic trends, increasing disposable incomes, and government initiatives promoting local food production and agro-processing. The market segmentation, encompassing various oil types (soybean, palm, coconut, olive, canola, sunflower, and others), fats (butter, lard, and others), and applications (food and beverages, animal feed, and industrial uses), presents lucrative opportunities for investors and businesses across the value chain, particularly those focusing on sustainable and ethically sourced products. The geographical focus on Egypt, South Africa, and the rest of Africa indicates substantial market potential across diverse regions. Recent developments include: March 2023: Wilmar International Ltd (WILMAR) initiated the construction of an edible oil plant located in Richards Bay, KwaZulu-Natal, South Africa. This USD 81 million project encompasses the development of a fractionator, a shortening plant, and a packaging facility. Notably, this endeavor commenced in 2020., July 2022: Eni introduced the first vegetable oil production facility for biorefining in Kenya. This venture involved the establishment of an oilseed collection and pressing plant, which marked the inception of vegetable oil production for bio-refineries., June 2021: WA Group made a substantial investment of USD 114 million in a processing plant aimed at boosting edible oil production in Ethiopia. This strategic investment enabled the company to cease importing edible oils and, instead, focus on refining crude palm oil sourced from other countries, as well as processing locally cultivated oilseeds such as sesame seeds, peanut seeds, niger seeds, soya beans, and haricot beans.. Key drivers for this market are: Wide Applications of Oils and Fats in Different End-Use Industries, Government Initiatives and Key Players Adopting Innovative Market Expansion Strategies. Potential restraints include: Wide Applications of Oils and Fats in Different End-Use Industries, Government Initiatives and Key Players Adopting Innovative Market Expansion Strategies. Notable trends are: Wide Applications of Oils and Fats in Different End-Use Industries.

As of *********, the South Africa's average petrol price reached ***** South African rand per liter, which was a drop of **** percent from June of the prior year. In the period under review, the average price of petrol reached its lowest value in the first half of 2020, at ***** South African rand per liter.

In *********, South Africa placed fourth among selected countries on the continent in petrol price in U.S. dollars.