Petrol, diesel prices likely to drop in February

It won't be as grand as January's fuel drop, but a drop on fuel will help.

Petrol and diesel prices are likely to drop in the first week of February.

If all goes well with crude oil prices, South Africans can look forward to yet another fuel price cut in February.

Last week, South Africans got a R2 decrease in petrol prices and R2.70 for diesel.

Coming into February and with the rand stable, the Central Energy Fund (CEF) is predicting yet another drop in petrol and diesel prices.

However, it won’t be as big as the January drop.

The CEF makes its predictions based on the price of refined oil and the current US Dollar/Rand exchange. The Department of Energy decides the prices that’ll reflect at the petrol pumps, once it’s taken all mitigating factors into account.

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