South African motorists and energy consumers will benefit from another round of fuel price decreases this month, the Department of Mineral and Petroleum Resources has announced, as adjustments take effect from Wednesday, February 4, 2026.
The monthly adjustment comes in response to current local and international market conditions, including fluctuations in crude oil prices, global petroleum product availability, and currency exchange rates.In his statement, the ministry outlined that both 93 and 95 octane petrol will decrease by 65 cents per litre, providing relief to motorists and households.
Diesel prices will also fall, with 0.05% sulphur diesel decreasing by 50 cents per litre and 0.005% sulphur diesel decreasing by 57 cents per litre.
Wholesale illuminating paraffin (IP) will drop by 53 cents per litre, while the retail price of IP will fall by 70 cents per litre. In contrast, the maximum retail price of LPG will increase by 31 cents per kilogram nationally, and by 36 cents per kilogram in the Western Cape.
It is revealed that these adjustments reflect a range of factors, both domestic and international.
“South Africa’s fuel prices are adjusted monthly, informed by international and local factors. International factors include the fact that South Africa imports both crude oil and finished products at a price set at the international level, including importation costs, eg, shipping costs.”
It is also explained that international crude oil prices were a major contributing factor. During the period under review, the average Brent Crude price increased from $61.47 (R992)to R1 034 per barrel, driven by geopolitical uncertainty in countries such as Iran, Greenland, Kazakhstan, and Venezuela, as well as extreme cold weather conditions disrupting production in the United States.
Despite this, international petroleum product prices decreased due to higher availability and inventories, which lowered contributions to the Basic Fuel Price by 36.46 cents for petrol, 24.59 cents for diesel, and 21.13 cents for illuminating paraffin.
The strengthening of the South African rand against the US dollar (from 16.85 to 16.31 per USD) also contributed to the reduction in fuel prices, resulting in lower contributions of 28.52 cents per litre for petrol, 31.62 cents per litre for diesel, and 31.86 cents per litre for IP.
Regarding LPG, the Maximum Refinery Gate Price (MRGP) for imported LPG through the Port of Saldanha Bay has been set at R12 878.33 per ton, while the Maximum Retail Price (MRP) will be R33.58 per kilogram.
Fuel prices in South Africa are adjusted monthly to ensure they reflect global market realities and local economic conditions. The ministry also noted that the monthly adjustments are critical for maintaining alignment with international crude oil and product prices, as well as protecting consumer interests amid global energy price volatility.
The latest reductions mark a welcome reprieve for motorists, with 93-octane petrol expected to fall below R20 per litre in some areas.
The announcement comes amid ongoing discussions about energy costs, affordability, and economic pressures on South African households.
Saturday Star