Petrol, Diesel Prices Adjusted: What You'll Pay in Your City on February 4

As of today, February 4, 2026, fuel prices have been adjusted, reflecting changes in both international crude oil markets and domestic economic factors. These changes will impact consumers across various cities, with price variations influenced by local taxes and levies.

Key Price Adjustments

In South Africa, Mineral and Petroleum Resources Minister Gwede Mantashe announced a decrease in fuel prices effective today. Petrol 93 and 95 will decrease by 65 cents per litre. Diesel (0.05% sulphur) will decrease by 50 cents per litre, while diesel (0.005% sulphur) will decrease by 57 cents per litre. Additionally, illuminating paraffin will decrease by 53 cents per litre.

In India, petrol prices vary from city to city, remaining in the average between Rs. 94.25 to Rs. 107.5 per liter. For example, in Mumbai, the petrol price is ₹103.50 per litre, slightly down from yesterday’s ₹103.54. These rates include state taxes.

Factors Influencing the Change

Several factors have contributed to these adjustments. The average Brent Crude oil price increased from $61.47 to $64.08 USD during the review period, influenced by geopolitical uncertainty and extreme cold weather conditions in the US. Despite the rise in crude oil prices, international product prices decreased due to the availability of inventories, leading to lower contributions to the basic fuel prices for petrol and diesel. The Rand's appreciation against the US Dollar also contributed to lower fuel prices.

Regional Prices

In the United States, the average price for regular gasoline is $2.883. Diesel prices are also seeing changes. The U.S. Energy Information Administration (EIA) reported the U.S. Retail Diesel Price is at a current level of 3.624, up from 3.53 last week and down from 3.715 one year ago.

Impact on Consumers and Industries

Lower fuel prices generally benefit consumers by reducing transportation costs and potentially moderating the prices of goods and services. Certain industries, such as agriculture, also benefit from lower fuel costs, which constitute a significant portion of their expenses.

Global Context

Globally, gasoline prices have seen some fluctuation. Gasoline rose to $1.91 USD/Gal on February 4, 2026, which is up 0.40% from the previous day. Over the past month, gasoline's price has risen 11.43%, but it is still 6.72% lower than a year ago. Crude Oil rose to 63.76 USD/Bbl on February 4, 2026, up 2.60% from the previous day.

NOTE: Fuel prices are dynamic and subject to change based on various market conditions and local government policies. Please consult local fuel retailers for the most accurate and up-to-date prices in your specific area.