Week 7 Fuels 17 Jul 2026

The fuel that peaks, then fades

South Africa's liquid-fuel demand keeps climbing — until fleets start to electrify. Then it turns.

The decision on the table

“You're investing in refining, import or storage: you're building for a peak — when does demand turn, and what strands on the far side?”

Bottom-up SACU fuels demand to 2050 — petrol and diesel rise, then roll over as EVs take share, while jet keeps climbing. Infrastructure built for the peak risks stranding.

Technical

Bottom-up cohorts; peak-sized infrastructure risks stranding on the far side.

Economic

Petrol and diesel peak then decline (diesel stickier); jet diverges upward.

Political

EV policy, refinery closures and regional fuel rules set the turn date.

Demand peaks, then declines — the only questions are the year, and what you've built by then.
What we’re watching
  • EV adoption curve
  • Refinery utilisation and closures
  • Jet-fuel recovery vs trend

Calls back Week 1 — the gas gap and the fuels peak are two halves of one energy-transition timing question.

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