How Much Will South Africa Petrol Prices Decrease in February, with Expectation of R1 Cut for Diesel and Fuel?
After January’s fuel price cuts, early indicators suggest South African motorists could see additional relief at the pumps in Februar...
Quick overview
- South African motorists may see further fuel price cuts in February due to substantial over-recovery in petrol and diesel prices.
- Current data indicates petrol could decrease by approximately 90 cents per litre and diesel by about R1.20 per litre.
- The positive outlook follows January's reductions, where petrol prices fell by up to 66 cents and diesel by up to R1.50 per litre.
- However, volatility in oil prices or the rand could impact these anticipated savings.
After January’s fuel price cuts, early indicators suggest South African motorists could see additional relief at the pumps in February—provided market conditions remain supportive.
Early Indicators Point to Further Fuel Price Cuts
South African drivers may soon benefit from another round of fuel price reductions following the relief already delivered in January. Preliminary data from the Central Energy Fund (CEF) indicates a substantial over-recovery in both petrol and diesel prices, raising expectations of further downward adjustments in February.
Current figures show petrol prices over-recovering by approximately R1.20 per litre, while diesel is showing an even larger over-recovery of around R1.75 per litre. These levels typically create room for price cuts, assuming global and local conditions remain broadly unchanged through the rest of the month.
January Reductions Set the Stage
The positive outlook follows meaningful fuel price decreases implemented at the start of January. Petrol prices were reduced by between 62 and 66 cents per litre, while diesel prices dropped by a more substantial R1.37 to R1.50 per litre.
These earlier cuts provided immediate relief to consumers and laid the groundwork for further potential reductions if the over-recovery persists.
What February Could Bring
According to the latest daily fuel price data published by the CEF, petrol prices are currently tracking lower across grades. The price of 95-octane petrol could fall by roughly 90 cents per litre, while 93-octane petrol may decline by around 85 cents per litre.
Diesel prices also appear set for additional reductions. Wholesale prices for 50ppm diesel are projected to drop by about R1.20 per litre, with 500ppm diesel expected to fall by approximately R1.09 per litre.
Oil Prices and Rand Provide Support
The expected price relief is being driven by relatively subdued Brent crude oil prices, hovering near $66.10 per barrel, along with a firmer rand trading around R16.41 to the US dollar. Together, these factors have helped ease fuel import costs.
Volatility Remains a Risk
Despite the encouraging outlook, fuel prices remain sensitive to late-month volatility. Any sharp moves in oil prices or the rand could still reduce—or even eliminate—the anticipated savings.
Bottom Line
If current trends hold, South African motorists could enjoy some of the lowest fuel prices seen in several years, offering welcome relief amid ongoing cost-of-living pressures.
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