Fuel relief continues as petrol and diesel prices drop to three-year lows

Another breather at the pumps

South African motorists are getting a rare run of good news at the fuel pumps. From Wednesday, 4 February, petrol and diesel prices are expected to drop again, extending a welcome relief streak that began at the start of the year.

According to late-month data from the Central Energy Fund (CEF), petrol is heading for a cut of around 64 cents per litre, while diesel prices are forecast to fall by between 50 and 56 cents per litre, depending on the grade. If confirmed, this will push petrol prices to levels last seen more than three years ago.

On social media, drivers are already celebrating, with many joking that it’s finally cheaper to drive to work than to complain about fuel prices online.

What you’re likely to pay

If the projections hold, 95 Unleaded petrol should come down to about R19.28 per litre at the coast and roughly R20.11 in Gauteng. Inland motorists using 93 Unleaded can expect prices of around R20.00 per litre.

Diesel users aren’t left out either. The wholesale price of 50ppm diesel is expected to drop to around R17.20 at the coast and about R17.96 inland. For logistics companies, farmers and small businesses that rely heavily on diesel, this could ease pressure on operating costs, at least in the short term.

It’s worth noting that these figures are based on unaudited data. The final prices will be confirmed by the Department of Mineral and Petroleum Resources early this week and could still shift slightly.

Why prices are falling

Two key forces are working in South Africa’s favour: cheaper international fuel prices and a stronger rand. Together, they’ve created an over-recovery in local fuel pricing, with the rand alone contributing around 36 cents to the expected petrol cut.

Last week, the currency strengthened past R16 to the US dollar for the first time in nearly four years. This improvement has been linked to growing investor confidence, helped by reports that South Africa’s economy expanded by about 1.3% in 2025, supported by fewer power interruptions, better business sentiment and a strong agricultural season.

How long will it last?

While January saw fuel price cuts of up to 66 cents for petrol and a hefty R1.50 for diesel, the outlook isn’t guaranteed. International oil markets became more volatile towards the end of January, and any sustained spike could bring the current price-cutting cycle to an end.

Brent crude briefly climbed to around $68 a barrel before easing back to just under $65 after signs that tensions between the US and Iran may be cooling. For now, that dip is helping South African consumers, but global politics could change the picture quickly.

For motorists, the message is simple: enjoy the relief while it lasts.

{Source: IOL}

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