Drivers and transport companies will be pleased to see the anticipated drop in fuel prices beginning at midnight.
The new fuel prices will be formally changed on Wednesday, according to the Department of Petroleum and Mineral Resources.
Petrol prices for 93 and 95 will decrease by 7 cents per litre, while diesel prices will decrease by 18 to 24 cents per litre.
According to the department, fuel recoveries were significantly skewed towards increases, and the rand and oil prices stabilised globally before exploding in the opposite direction once February got underway.
The department disclosed in the statement that pump prices in March slightly decreased as a result of the rand’s stability.
“International petrol prices rose between January 31 and February 27, while diesel prices fell due to inconsistent demand and fluctuating oil prices,” reads the statement.
Rand gains against dollar
Over the course of the entire period under examination, the rand’s value relative to the US dollar increased on average.
During the period from January 31, 2025, to February 27, the average rand/US dollar exchange rate increased from R18.50 to R18.73.
As a result, the basic fuel prices of fuel, diesel, and illuminating paraffin were reduced by 13.54 cents per litre, 14.38 cents per litre, and 14.15 cents per litre, respectively.
Inland, 95 petrol was R22.41 in February and will now be R22.34; 93 petrol was R22.16 and will now be R22.09; diesel 0.005% was R20.45 and will now cost R20.21; diesel 0.05% (wholesale) was R20.34 and will now be R20.16; paraffin for illumination was R14.24 and will now be R14.18; and LPGas per kilogram was R38.58 and will now be R38.56.
In the coastal areas, 93 petrol was R21.37 and now will be R21.30; 95 petrol was R21.62 and now will be R21.55; diesel 0.05% (wholesale) was R19.55 and will now cost R19.37; diesel 0.005% (wholesale) was R19.69 and will drop to R19.45; illuminating paraffin dropped from R13.24 to R13.18; while LPGas per kilogram decreased from R35.42 to R35.40.
