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Thursday / 6 February 2025
HomeNewsBig petrol price increases expected for South Africa in February

Big petrol price increases expected for South Africa in February

It’s not looking good for fuel prices in South Africa this coming February.

Mid-month data published by the Central Energy Fund (CEF) shows that petrol is set for a minimum increase of 75c per litre, while diesel is expected to go up by at least 88c per litre.

These anticipated adjustments are based on rising international petroleum product prices during the initial weeks of 2025 coupled with an underperforming local currency.

Petrol pump pain

From 27 December 2024 to 13 January 2025, the price of Brent Crude oil rose from a low of $74.17 per barrel to a high of $81.01 per barrel largely on fears that the US would impose further sanctions on Russian oil, Reuters reports.

The net increase contributed to an under-recovery in domestic fuel prices of 34-41c per litre for petrol, and 44-46c per litre for diesel.

Over the same period, the rand depreciated against the US dollar by a significant margin.

On the 27th of December, it swapped hands with the greenback at a rate of around R18.80 per dollar. Fast forward to the 13th of January, and it was trading for a much higher R19.18 per dollar.

This is expected to tack on a further 40-44c per litre to all fuel types in the country, depending on the grade.

Based on these factors, fuel prices in South Africa in February 2025 are anticipated to be adjusted as follows:

  • Petrol 93 – Increase of 81c a litre
  • Petrol 95 – Increase of 75c a litre
  • Diesel 0.05% – Increase of 90c a litre
  • Diesel 0.005% – Increase of 88c a litre

It should be noted that these predictions are not the official changes that will be made by the Department of Mineral and Petroleum Resources next month.

The final changes could be higher or lower as they also take into account any potential changes in the Slate Levy, taxes, transport and storage costs, or wholesale and retail margins.

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