/ 5 February 2024

Brace yourself for a big petrol price increase in February

A further increase in the petrol price of 30 cents per litre is expected in February due to the weak exchange rate.
Motorists can expect an increase at the petrol pumps from next Wednesday

Motorists can expect an increase at the petrol pumps from next Wednesday, according to unaudited fuel data from the Central Energy Fund, published by the Automobile Association.

According to the data, 93 unleaded petrol (ULP) and 95 ULP is expected to climb between 64c a litre and 66c a litre, respectively, while diesel is expected to go up by about 63c a litre.

The price of illuminating paraffin is also expected to increase by 47c a litre.

This comes after motorists have enjoyed three months of reduced petrol prices. 

“The movement in international oil prices is contributing a significant percentage to the increases, while the weaker average rand to US dollar exchange is adding an impactful, but smaller, margin to the expected increases,” said the Automobile Association.

Based on these numbers, a litre of 95 ULP inland will climb from R22.49 a litre to R23.15 a litre, while the price of 93 ULP inland will rise from R22.17 a litre to R22.81 a litre.

The association cautions motorists to monitor their fuel usage and to budget according to the new fuel prices, which come into effect next Wednesday.