(Fairly) Large drop in fuel prices expected in February

The price of petrol is set to decrease by around 41cents a litre on 7 February.

The price of diesel may fall by 23 cents a litre, according to the Automobile Association, while the price of illuminating paraffin may drop by about 26 cents.

International oil prices are up from $63 per barrel to just under $70 a barrel during the past month.

However, more expensive oil was more than offset by the rand; strong since the election of Cyril Ramaphosa as the President of the ANC, and on expectations that Jacob Zuma may step down as president of the country.

The Minister of Energy will announce the final price changes at the end of the month.


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