Official petrol price decreases for February announced

Motorists will enjoy an appreciable reduction in the price of both petrol and diesel this month.

The Department of Petroleum and Mineral Resources has published the official fuel price adjustments for February 2026, which will take effect this Wednesday (4 February).

International oil prices fluctuated in January amid multiple geopolitical events, including the United States’ intervention in Venezuela, the dispute over Greenland, and the escalating situation in the Middle East with Iran.

As a result, oil prices skyrocketed from below $60 per barrel to over $70 per barrel over the course of the month.

Luckily, this was offset by the rand’s strong performance, ensuring that South Africa will still benefit from an over-recovery in fuel prices, even if it is less than originally anticipated.

The average Brent Crude oil price increased from $61.47 to $64.08 during the period under review, though product prices ultimately decreased thanks to improved inventory availability.

This led to a lower contribution to the Basic Fuel Price (BFP) of 36.46c/l for petrol and 24.59c/l for diesel.

The rand appreciated against the US dollar over the same period, dropping from R16.85 to R16.31 per USD).

This led to a lower contribution to the BFP of 28.52c/l for petrol and 31.62c/l for diesel.

In line with the provisions of the Self-Adjusting Slate Levy Mechanism, the slate levy remains unchanged at zero cents per litre (0.00c/l) in the price structures of petrol and diesel.

What you’re paying this February

The new fuel price adjustments will take effect later this week on Wednesday, 4 February 2026.

Petrol users will see a drop of 65c per litre for both petrol 93 and 95, while those with diesel vehicles will benefit from a reduction of between 50c and 57c per litre.

Unfortunately, this is far less than the Central Energy Fund’s original prediction of a R1.15 price cut for petrol and a R1.63 cut for diesel, which can be attributed to the higher oil price.

Nevertheless, it marks another reduction in fuel prices, which have reached a low point not seen in several years.

These are the official adjustments:

• Petrol 93 – Decrease of 65c per litre
• Petrol 95 – Decrease of 65c per litre
• Diesel 0.05% (wholesale) – Decrease of 50c per litre
• Diesel 0.005% (wholesale) – Decrease of 57c per litre

The table below indicates how the official fuel price adjustments for February will reflect at the pump: