If you’re a driver in South Africa, brace yourself for another round of bad news when it comes to fuel prices.
According to the latest data, it looks like both petrol and diesel prices are set to rise once again in February 2025.
Vehicle owners in the country have already felt the sting of price increases this month, and the situation seems to be headed in the same direction next month.
Why Are Prices Going Up?
The increase in fuel prices is largely due to a combination of factors, including the rand’s continued depreciation against the dollar and the ongoing rise in global oil prices.
As the rand weakens further, it’s expected that South African motorists will be facing more expensive fuel in the coming weeks.
The rising price of oil, fueled by ongoing unrest in the Middle East, is also contributing to the spike.
Projected Fuel Price Increases for February 2025
As of Tuesday, January 21, the Central Energy Fund (CEF) released its latest projections for fuel prices, and here’s what South Africans can expect if these market conditions continue:
- Petrol 93: A price increase of 95 cents per litre
- Petrol 95: An increase of 88 cents per litre
- Diesel 0.05%: A 114-cent rise
- Diesel 0.005%: An increase of 111 cents per litre
- Illuminating Paraffin: Set to go up by 101 cents
If the exchange rate and oil prices remain steady (which, as we know, is unlikely), petrol drivers can expect a hike of 95 cents for 93-octane fuel and 88 cents for 95-octane fuel.
Diesel users will see a price increase somewhere between 111 and 114 cents per litre, while paraffin prices are expected to rise by 101 cents.
The Two Main Factors Affecting Fuel Prices
There are two major elements influencing fuel prices in South Africa:
- Global Oil Prices: The price of oil continues to drive the cost of petroleum products.
- The Rand/Dollar Exchange Rate: Since South Africa imports most of its oil, the value of the rand against the dollar plays a significant role in determining fuel costs.
As of the latest update, the price of Brent crude oil is $78.95 per barrel, and the rand is trading at R18.53 to the dollar.
When Will the Price Changes Take Effect?
The final adjustments to petrol and diesel prices will be confirmed early next month.
If current market conditions hold, these increases will become official on Tuesday, February 4, 2025, with the new prices kicking in at midnight.
So, until then, it might be a good idea to take it easy on the accelerator and conserve as much fuel as possible.
Current Fuel Prices in South Africa
Here’s a quick look at the current fuel prices for both inland and coastal regions as of January 2025:
Inland (January 2025)
- Petrol 93: R21.34
- Petrol 95: R21.59
- Diesel 0.05%: R19.29
- Diesel 0.005%: R19.44
- Illuminating Paraffin: R13.26
Coastal (January 2025)
- Petrol 93: R20.55
- Petrol 95: R20.80
- Diesel 0.05%: R18.50
- Diesel 0.005%: R18.68
- Illuminating Paraffin: R12.26
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