Fuel Price Relief for January 2024

Fuel prices in South Africa are expected to decrease in January 2024, bringing some much-needed financial relief to South African motorists and the economy.

2024 is off to a positive start with the prices of petrol and diesel expected to be slashed yet again with adjustments taking effect on Wednesday, 3 January 2024.

The Department of Mineral Resources and Energy has published the following fuel price adjustments for January 2024.

Petrol ULP93 – decrease by 62 cents per litre
Petrol ULP95 – decrease by 76 cents per litre
Diesel 0.05% – decrease by 118.32 cents per litre
Diesel 0.005% – decrease by 126.32 cents per litre

The Automobile Association (AA) commented, “Although we are expecting fuel to be cheaper in January, we remain concerned about the overall high prices which impact on all consumers. If the expected decreases are realised, petrol prices will still be higher than they were in January 2023, but diesel prices will be marginally cheaper than at the same time. We must see all of this in the context of consumers who are still recovering from steep fuel price hikes in September and October.”

The AA, however, warns that it’s too early to determine if the trend of fuel price cuts will continue as geo-political developments negatively impact international oil prices.

“For this reason, a sustainable solution to mitigating rising fuel costs is still necessary and until that solution is found, citizens will be at the mercy of fuel price hikes. We again call on government to urgently initiate a transparent review of the fuel pricing structure to seek this solution,” says the Association.

Expected Fuel Price in South Africa for January 2024

Fuel Type	Dec ’23 Inland	Dec ’23 Coast	Jan 24 Inland*	Jan’ 24 Coast*
Petrol Unleaded 93	R22.79	R22.07	R22.17	R21.45
Petrol Unleaded 95	R23.25	R22.53	R22.49	R21.77
Diesel 0.05%	R21.81	R21.09	R20.63	R19.91
Diesel 0.005%	R21.99	R21.28	R20.73	R20.02