South African motorists welcomed the new year with substantial relief at the fuel pumps, with data from the Central Energy Fund (CEF) pointing to the possibility of even lower prices in early February.
Last week, petrol prices fell by 62 to 66 cents per litre, depending on the grade, while diesel prices saw an even steeper reduction, dropping 137 to 150 cents per litre.
The declines provided a much-needed reprieve for cash-strapped South Africans after months of volatile fuel costs.
However, recent increases in Brent crude oil prices have tempered expectations of another major cut in February, though experts note that market fluctuations in the coming weeks could still influence pump prices.
Latest forecast
Below, the latest projections as received by The South African website from the Central Energy Fund (CEF):
| FUEL | PRICE CHANGE |
| Petrol 93 | decrease of 85 cents |
| Petrol 95 | decrease of 90 cents |
| Diesel 0.05% | decrease of 109 cents |
| Diesel 0.005% | decrease of 120 cents |
| Illuminating Paraffin | decrease of 93 cents |
If the market conditions were to remain consistent for the remainder of the month – an unlikely scenario with the rand/dollar exchange rate fluctuating and the oil price ever changing – a decrease of 85 cents per litre is expected for petrol 93 octane motorists and a decrease of 90 cents for 95 users is anticipated.
Meanwhile, diesel motorists would see something between a 109 and 120 cents per litre decrease.
Finally, illuminating paraffin is expected to drop by 93 cents in price.
FUEL PRICE IN SOUTH AFRICA IMPACTED BY TWO MAIN FACTORS:
1. The international price of petroleum products, driven mainly by oil prices
2. The rand/dollar exchange rate used in the purchase of these products
Oil price
At the time of publishing the brent crude oil price is $65.89 a barrel.
Exchange rate
At the time of publishing the rand/dollar exchange rate is R16.40/$.
The final overall price changes for both petrol and diesel will be confirmed later in the month with the new prices taking effect at midnight on Tuesday, 3 February.
The current January 2026 petrol and diesel prices (Inland and Coastal):
| INLAND | January |
| Petrol 93 | R20.64 |
| Petrol 95 | R20.75 |
| Diesel 0.05% | R18.41 |
| Diesel 0.005% | R18.52 |
| Illuminating Paraffin | R12.63 |
| COASTAL | January |
| Petrol 93 | R19.85 |
| Petrol 95 | R19.92 |
| Diesel 0.05% | R17.58 |
| Diesel 0.005% | R17.76 |
| Illuminating Paraffin | R11.62 |
