Fuel prices falling again: Here’s how much you'll pay for petrol and diesel from February 4
Petrol and diesel prices are coming down again this week.
Image: David Ritchie / Independent Media
Fuel prices are set to fall again this week, with significant price decreases confirmed for both petrol and diesel from Wednesday, February 4.
The Minister of Mineral and Petroleum Resources has announced a petrol price cut of 65 cents per litre, while diesel is set to fall by between 50 cents (500ppm) and 57 cents (50ppm).
The Minister of Mineral and Petroleum Resources has announced 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 will bring the price of 95 Unleaded down to around R19.27 at the coast and R20.10 in Gauteng, where the cheaper 93 Unleaded will retail for R19.99. This is the lowest petrol price since January 2022.
The wholesale price of 50ppm diesel will reduce to R17.19 at the coast and R17.95 inland.
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 strong over-recovery on petrol and diesel comes primarily as a result of a stronger South African rand.
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.
During the most recent fuel price review period, it averaged R16.31, down from R16.85 during the previous review period.
This came 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.
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