By The year starts off on a good note with fuel prices decreasing significantly and the Rand performing very well against the US Dollar. The adjusted fuel prices will take effect from 7 January 2026.
Considering local and international economic factors, the Minister for Minerals and Petroleum Resources Mr Gwede Mantashe, has adjusted fuel prices downward.
According to the Department of Minerals and Petroleum Resources, the average Brent Crude oil price decreased from 63.54 US Dollars (USD) to 61.47 USD during the period under review. The main contributing factor is the oversupply of oil in the market due to increased production by OPEC+ and non-OPEC producers.
The average international product prices of Petrol followed the decreasing trend of crude oil. The prices of middle distillates, such as diesel and illuminating paraffin, decreased more significantly because of higher inventories for the winter season in the Northern Hemisphere. These factors led to lower contributions to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by 45.03 c/l, 126.97 c/l and 87.96 c/l respectively. The prices of Propane and Butane increased during the period under review due to tighter global supply.
The Rand appreciated on average, against the US Dollar (from 17.23 to 16.85 Rand per USD) during the period under review when compared to the previous one. This led to lower contributions to the Basic Fuel Prices of petrol, diesel and Illuminating Paraffin by 20,80 c/l, 22.31 c/l and 22.54 c/l respectively.
Fuel prices have been adjusted as follows:
❖ Petrol 93 (ULP & LRP): Sixty-two cents per litre (62.00 c/l) decrease.
❖ Petrol 95 (ULP &LRP): Sixty-six cents per litre (66.00 c/l) decrease.
❖ Diesel (0.05% sulphur): One hundred and thirty-seven cents per litre (137.00 c/l) decrease.
❖ Diesel (0.005% sulphur): One hundred and fifty cents per litre (150.00 c/l) decrease.
❖ Illuminating Paraffin (wholesale): One hundred and ten cents per litre (110.00 c/l) decrease.
❖ SMNRP for IP: One hundred and forty-eight cents per litre (148.00 c/l) decrease.
❖ Maximum Retail Price of LPGas: Twenty-one cents per kilogram (21.00 c/kg) increase and Twenty-three cents per kilogram (23.00 c/kg) increase in the Western Cape.
