Fuel price relief on the cards for January as oil prices plummet
Petrol and diesel prices are set to come down in January 2026.
Image: Karen Sandison / Independent Media
Fuel prices are heading in a more affordable direction once again, with mid-month data from the Central Energy Fund pointing to decreases for both petrol and diesel.
While current data points to decreases of around 24 cents for 95 Unleaded petrol and R1.00 to R1.10 for 500ppm and 50ppm diesel, respectively, the actual price cuts at month-end are likely to be much larger than these current month averages.
International oil prices have fallen sharply in recent days, with the daily over-recoveries on 16 December being as high as R1.05 for petrol and R1.92 for 50ppm diesel.
The predicted price decreases will bring welcome relief to motorists, following December’s increases of 29 cents for petrol and between 65 cents and 85 cents.
A litre of 95 Unleaded currently costs R20.58 at the coast and R21.41 in the inland areas, where 93 Unleaded retails for R21.26. The wholesale price of 50ppm diesel currently stands at R19.24 at the coast and R20.00 in Gauteng.
Why are oil prices dropping?
On Tuesday, the Brent international oil benchmark dipped below $60 for the first time since May, with the international oil benchmark slipping further to $58.92 on Wednesday morning.
This comes after Donald Trump announced on Monday that a deal to end the Ukraine war was closer than ever, after the US offered Kyiv NATO-like security guarantees.
“A deal to end the war in Ukraine could ease sanctions on Russian oil, adding to oversupply concerns already weighing on the market,” AFP reported.
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