SA’s fuel import bill surges to highest level since 1994
Source: Trade & Industrial Policy Strategies SA/US trade balance SA has maintained a trade surplus with the US in every quarter but one since 2022, but the latest stats show that the trade balance has swung in favour of the US following the import of 710 million litres of fuel in the second quarter of 2026.
Total imports from Nigeria more than trebled to about R25 billion in the second quarter compared with a year earlier, driven by an additional R10 billion in crude oil and R7 billion in other petroleum products.
Trade figures show SA has turned to the US and Nigeria to help keep fuel flowing at the pumps as normal supplies via the Strait of Hormuz have been disrupted.
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