South African motorists are set to enjoy significant relief at the fuel pumps this February, with a stronger Rand playing a crucial role in driving down costs across all major fuel categories.
The Department of Mineral Resources & Energy noted that the Rand’s strengthening from R16.85 to R16.31 against the US Dollar during the review period contributed to lower Basic Fuel Prices, reducing costs by 28.52 c/l for petrol, 31.62 c/l for diesel, and 31.86 c/l for illuminating paraffin respectively.
The statement further noted that these prices are informed by international and local factors.
According to the statement, these are the additional main factors that led to the fuel price reductions:
Crude oil prices
The statement noted that the price of Brent Crude oil increased from 61.47 US Dollars (USD) to 64.08 USD during the period under review. “The main contributing factors are the geopolitical uncertainty caused by various events relating to Iran, Greenland, Kazakhstan and Venezuela that gave rise to a risk premium and the extreme cold weather conditions which disrupted production in the US,” it explained.
International petroleum product prices
The statement noted that the average international product prices decreased due to availability of inventories, despite the increase in crude oil prices. “These factors led to lower contributions to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by 36.46 c/l, 24.59 c/l and 21.13 c/l respectively. The prices of Propane and Butane increased during the period under review due to the cold weather in the Northern Hemisphere and tighter global supply,” the statement added.
The fuel prices for February 2026 will be adjusted as follows:
- Petrol 93 (ULP & LRP): Sixty-five cents per litre (65.00 c/l) decrease.
- Petrol 95 (ULP &LRP): Sixty-five cents per litre (65.00 c/l) decrease.
- Diesel (0.05% sulphur): Fifty cents per litre (50.00 c/l) decrease.
- Diesel (0.005% sulphur): Fifty-seven cents per litre (57.00 c/l) decrease.
- Illuminating Paraffin (wholesale): Fifty-three cents per litre (53.00 c/l) decrease.
- SMNRP for IP: Seventy cents per litre (70.00 c/l) decrease.
- Maximum Retail Price of LPGas: Thirty-one cents per kilogram (31.00 c/kg) increase and Thirty-six cents per kilogram (36.00 c/kg) increase in the Western Cape.
Additionally, the statement noted that “the cumulative slate amounted to a positive balance of R5.064 billion for petrol and diesel at the end of December 2025.”
READ MORE HERE: February fuel prices expected to bring more relief for motorists
