Fuel prices hit a four-year low, bringing relief for motorists
Motorists will pay up to 65 cents less per litre for petrol from Wednesday as fuel prices drop to their lowest level in nearly four years.
West Rand motorists will feel some welcome relief at the pumps this week, with new fuel prices coming into effect on Wednesday, February 4.
The Department of Mineral and Petroleum Resources has confirmed that both 93 and 95 petrol will drop by 65 cents per litre at the retail level. Diesel prices will also decrease, with 0,05% sulphur diesel down by 50 cents and 0,005% sulphur diesel down by 57 cents per litre.
Illuminating paraffin will see further reductions, while the maximum retail price of Liquefied Petroleum Gas (LPG) will increase by 31 cents per kg. This adjustment continues a downward trend seen over recent months, with petrol prices now sitting at levels last experienced in early 2022, when fuel costs were similarly low.
Detailed fuel adjustments – effective 4 February 2026:
• Petrol 93 Unleaded Petrol (ULP) and Lead Replacement Petrol (LRP):
65.00 cents per litre decrease in retail price
• Petrol 95 ULP and LRP:
65.00 cents per litre decrease in retail price
• Diesel 0,05% sulphur:
50.00 cents per litre decrease in wholesale price
• Diesel 0,005% sulphur:
57.00 cents per litre decrease in wholesale price
• Illuminating paraffin:
53.00 cents per litre decrease in wholesale price
70.00 cents per litre decrease in the Single Maximum National Retail Price (SMNRP)
Why fuel prices are falling
Industry analysts and media reports attribute the relief largely to the recent strengthening of the South African rand against the US dollar. The firmer local currency helped reduce the cost of imported crude oil, offsetting pressure from fluctuating global oil prices.
Henry van der Merwe, chairperson of the South African Petroleum Retailers Association (SAPRA), an association of the Retail Motor Industry Organisation (RMI), said the latest fuel price movements highlight the impact currency performance has on local fuel costs.
“While motorists are enjoying welcome relief at the pumps, the primary driver behind this decrease is the rand’s recent gains,” Van der Merwe said.
“Because South Africa imports crude oil and refined fuel, a stronger rand lowers the local cost of these dollar-priced products. That impact has been particularly noticeable this month, bringing petrol prices to their lowest point in nearly four years.”
Retailers welcome relief but warn of ongoing pressures
He added that global oil market volatility remains a factor.
“International crude oil prices have been unstable, with occasional increases,” he explained.
“Under normal circumstances, this could have pushed fuel prices higher. However, the improved rand has helped cushion that impact. That said, global uncertainties and geopolitical risks affecting oil supply remain important considerations going forward.”
Van der Merwe also noted that while lower fuel prices provide short-term relief for households and businesses, fuel retailers continue to face operational challenges.
Retailers operate on very tight margins.
“Even as consumers benefit from lower prices, rising compliance, infrastructure, security and electricity costs continue to place pressure on the sector,” he concluded.
