By Rorisang Modiba
- Fuel price data shows diesel could drop by more than one rand per litre in February if current trends continue.
- Lower oil prices and a stronger rand are helping keep fuel costs down for South African motorists.
South African motorists could get more relief at the petrol pumps in February.
This follows fuel price cuts announced in January.
New figures from the Central Energy Fund suggest diesel prices could drop sharply next month.
Diesel with 50 parts per million sulphur is expected to fall by about R1.20 per litre. Diesel with 500 parts per million could drop by around R1.09 per litre.
The main reason is lower international oil prices.
Brent crude oil is trading at about 66 dollars a barrel. This helps reduce the cost of importing fuel into South Africa.
The rand has also been holding steady against the US dollar. It is trading at around R16.41 to the dollar, which further helps keep fuel prices down.
Together, lower oil prices and a stronger rand are creating good conditions for fuel price cuts.
However, experts warn that this could still change.
Global oil prices and the rand can move quickly before the end of the month. Any sharp changes could reduce the expected fuel price drop or cancel it completely.
If current trends stay the same, motorists could enjoy some of the lowest fuel prices seen in years.
The final fuel price changes for February will be announced soon. Any new prices will come into effect at midnight on 3 February.
Pictured above: A petrol station.
Image source: File
