If you are worried about having no money left in Januworry, with all the school expenses, paying off debts and other cash-draining costs, don’t stress, there may be some relief at the petrol pumps.
After dropping to a four-year low in January, motorists can expect another significant fuel price drop in February 2026, when the fuel price adjustment takes effect on the first Wednesday of the month.
What the data says
Data from the Central Energy Fund (CEF) has projected relief of between 70 cents and 74 cents per litre on petrol and 74 cents to 83 cents on diesel.
Indicators
The potential savings will be driven by a stronger rand (around R16.46/$) and falling global oil prices.
The rand has remained on the front foot in 2026, trading at around R16.46/$, stronger than the dollar.
While oil prices have been on a downward trajectory, recent events in Iran and Venezuela have put pressure on global prices.
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US pressure
Oil prices spiked in recent weeks as the United States (US) conducted its raid on Venezuela and threatened to take military action against Iran, two of the world’s largest crude producers.
Contracts for Brent Crude, the international benchmark, rose 10% in the last week and jumped by as much as 3% to trade above $65 a barrel, the highest price for Brent since November 2025.
Oil swung between small gains and losses as traders weighed the fallout from the US push for Greenland.
Brent traded near $64 a barrel. US President Donald Trump unleashed fresh social media attacks against allies, with European leaders signalling a strong response to potential US tariffs over the semi-autonomous territory of Denmark.
Projections
With that mix and the yo-yoing of exchange and oil prices, the projected decrease in fuel prices is as follows:
- Petrol 93: Decrease of 70 cents per litre
- Petrol 95: Decrease of 74 cents per litre
- Diesel 0.05%: Decrease of 74 cents per litre
- Diesel 0.005%: Decrease of 83 cents per litre
- Illuminating paraffin: Decrease of 63 cents per litre
The CEF does not provide any indicators for LP Gas, so the price will only be available when the Department of Minerals and Resources releases the details in February.
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