Johannesburg, 3 February 2026 – South African motorists and fuel users are set to enjoy meaningful relief at the pumps this week, with the Department of Mineral and Petroleum Resources (DMPR) announcing notable reductions across petrol, diesel, and paraffin, effective Wednesday, 4 February 2026.
Both 93 and 95 petrol grades will decrease by 65 cents per litre at retail, while diesel prices will drop by 50 cents per litre for 0,05% sulphur content and 57 cents per litre for 0,005% sulphur content. Illuminating paraffin will also see a reduction, though LPG will rise slightly, with the maximum retail price increasing by 31 cents per kilogram.
This latest adjustment continues a trend of downward movements observed over recent months, bringing petrol prices to levels not seen since early 2022.
Detailed Fuel Price Adjustments – Effective 4 February 2026
- Petrol 93 ULP & LRP: 65 cents per litre decrease
- Petrol 95 ULP & LRP: 65 cents per litre decrease
- Diesel 0,05% Sulphur: 50 cents per litre decrease
- Diesel 0,005% Sulphur: 57 cents per litre decrease
- Illuminating Paraffin: 53 cents per litre decrease in wholesale price; 70 cents per litre decrease in SMNRP
Industry analysts point to the recent strength of the South African rand against the US dollar as the primary driver of this relief. A stronger local currency has reduced the rand cost of imported crude oil and refined products, offsetting upward pressure from global crude price movements.
Henry van der Merwe, Chairman of the South African Petroleum Retailers Association (SAPRA), emphasised the influence of currency movements on domestic fuel prices.
“Consumers are seeing welcome downward movement at the pumps, but the key factor behind this change is the rand’s recent gains,” van der Merwe explains. “Because South Africa imports both crude oil and refined products, a stronger rand directly lowers the rand cost of those dollar-priced commodities. That effect has been significant this month and is the main reason petrol is at its lowest in nearly four years.”
He also noted the complex interplay between global oil market volatility and local pricing.
“Crude oil prices remain unpredictable, with periodic upticks in international markets. The rand’s improvement has offset much of that upward pressure. While these reductions offer short-term relief, global uncertainties—including geopolitical risks affecting oil supply—remain factors that could impact future fuel pricing.”
Van der Merwe concluded by highlighting the broader challenges facing fuel retailers.
“Lower prices provide relief for consumers and businesses, but sustainable fuel retailing relies on policy certainty and ongoing support for the downstream sector. Retailers operate on thin margins, and the cost of doing business locally—from compliance and infrastructure to security and electricity—remains a significant challenge.”
As South Africans prepare to fill up their tanks at lower prices this week, the combination of a stronger currency and global market dynamics serves as a reminder of the delicate balance shaping fuel costs in the country.
