Fuel price relief: 64 cents cut expected this week
STRONGER RAND
Good news for South African motorists as petrol prices are expected to fall by 64 cents per litre from Wednesday, bringing prices to their lowest level since January 2022.
Image: Tumi Pakkies / Independent Newspapers
MOTORISTS can expect significant relief at the pumps from Wednesday, February 4, as fuel prices drop, with petrol decreasing by 64 cents and diesel by up to 56 cents per litre, thanks partly to the rand breaking below R16 to the dollar.
This will bring prices to their lowest level since January 2022.
Late-month data from the Central Energy Fund (CEF) is pointing to a petrol price cut of around 64 cents per litre, while diesel is set to fall by between 50 cents (500ppm) and 56 cents (50ppm).
This should bring the price of 95 Unleaded down to around R19.28 at the coast and R20.11 in Gauteng, where the cheaper 93 Unleaded will retail for around R20.00. This is the lowest petrol price since January 2022.
The wholesale price of 50ppm diesel will reduce to around R17.20 at the coast and R17.96 inland.
Keep in mind that these predictions are based on unaudited data, and the final price adjustments, which are due to be announced by the Department of Mineral and Petroleum Resources early this week, could differ from the above.
This follows January's fuel price decreases of up to 66 cents for petrol and R1.50 for diesel.
Stronger rand doing us favours
The over-recovery on petrol and diesel prices comes as a result of lower international product prices and a stronger South African rand, which is contributing around 36 cents to the predicted petrol price reduction.
Last week, the local currency broke below R16 to the US dollar for the first time in almost four years, supported by a weaker US currency and rising investor confidence in South Africa.
This comes after the World Bank reported that South Africa’s economy expanded by around 1.3% in 2025, largely thanks to a more reliable electricity supply, improved business confidence and a strong agricultural harvest.
While international oil prices remained stable during the early part of January, the latter part of the month saw increased volatility, and if this continues, it could put an end to South Africa’s fuel price-cutting cycle.
After surging to the $68 mark late last week, Brent Crude oil slipped to $64.95 on Monday morning after Donald Trump gave signals that US-Iran tensions may be easing.