South African motorists may see fuel price relief in February

South African motorists could see further relief at the fuel pumps in February.

According to the latest daily fuel price data published by the Central Energy Fund:

• the price of 95-octane petrol is on track to decline by about 90c/l; and
• 93-octane petrol could drop by about 85c/l.

The wholesale price of diesel is also expected to fall, with:

• 50ppm diesel projected to decrease by R1.20/l; and
• 500ppm by R1.09/l.

These declines are being driven by relatively low Brent crude oil prices of about $66.10 a barrel at the time of writing, alongside a rand that has remained firm against the US dollar, at about R16.38/$.

However, market volatility before month-end could still alter the outlook, potentially reducing or erasing the anticipated savings. Should current conditions persist, motorists would be set to benefit from some of the lowest fuel prices seen in several years.

Final February fuel price adjustments are scheduled to take effect at midnight on February 3.