South Africa just got some of the best news in a long time. Petrol prices are dropping again. This time, the drop is big enough to make a real difference. From Wednesday, February 4, 2026, both grades of petrol will go down by 65 cents per litre. Diesel will also get cheaper by up to 57 cents per litre. This is the second month in a row that fuel prices have fallen. For millions of South Africans, this is simple and straightforward good news. It means less money spent at the pump every single week.
The main reason behind this drop is the South African rand. The rand is the country’s currency. It has been getting stronger against the US dollar. During the review period, the rand averaged R16.31 to the dollar. That is up from R16.85 in the month before. A stronger rand makes it easy for South Africa to buy fuel from other countries at a lower cost. Since the country imports all of its crude oil, the exchange rate plays a huge role in how much people pay at the pump.
Now, here is where things get a little interesting. Global oil prices actually went up during January. Crude oil rose from below $60 a barrel to above $70 a barrel. This happened because of tensions between the United States and Iran in the Middle East. Normally, when oil prices go up, fuel prices in South Africa go up too. But this time, the strong rand stepped in and made it easy to absorb that shock. The rand’s strength cut the basic fuel price by more than 28 cents per litre across all fuel types. On top of that, international product prices also came down because there is a lot of fuel available in global markets right now. Together, these two factors made the price drop possible.
So what will South Africans actually pay now? The simple answer depends on where you live. If you are inland, a litre of 93 unleaded petrol will now cost R19.99. A litre of 95 unleaded will be R20.10. At the coast, prices are a little lower. There, 93 unleaded will be R19.20 per litre, and 95 unleaded will come down to R19.27. These are the lowest petrol prices the country has seen since early 2022. That is nearly four years of waiting for prices this low.
Diesel users are also getting relief. Inland, diesel at 0.05 percent sulphur drops to R17.91 per litre. The cleaner 0.005 percent sulphur diesel falls to R17.95 per litre. This matters a lot for farmers, truckers, and anyone who runs a business that depends on diesel. Lower diesel costs mean cheaper food deliveries and better margins for small businesses.
Illuminating paraffin is also getting cheaper by 70 cents per litre. Many South Africans in rural areas still use paraffin for cooking and lighting. This cut will help those households in a very direct way.
Not everything is going down, though. LP gas, which is used for cooking in many homes, will actually go up. The price of LP gas will increase by 31 cents per kilogram across the country. In the Western Cape, the increase is even higher at 36 cents per kilogram. This is because global supplies of LP gas are tight right now, partly due to cold weather in the Northern Hemisphere.
The government also kept the Slate Levy at zero cents per litre. This is a simple mechanism that helps balance fuel prices over time. Right now, there is a healthy balance of over R5 billion in the slate fund. Keeping the levy at zero means no extra charges are being added to your fuel bill.
Looking ahead, it is not easy to say how long this relief will last. Oil prices can change fast. Geopolitical tensions, especially in the Middle East, could push crude prices higher again at any time. The rand could also weaken if global investors lose confidence. But for now, February brings welcome breathing room for South African households. Two months of falling fuel prices in a row is not something people get to enjoy very often. It is a small win. And in South Africa right now, every small win matters.
