The latest fuel price projections for South African motorists are not looking good for February 2025.
With a combination of factors weighing heavily on the market, vehicle owners in Mzansi can expect significant price hikes in both petrol and diesel in the coming weeks.
Fuel Prices Expected to Rise
Recent reports from The South African website indicate that there has already been an increase in fuel prices in January 2025, driven by the depreciation of the rand against the dollar and the steady rise in global oil prices, fueled by ongoing unrest in the Middle East.
Unfortunately, the trend shows no signs of slowing down, and the situation could worsen in February.
According to the Central Energy Fund (CEF), petrol prices are set to rise by 93 cents for 93-octane petrol and 86 cents for 95-octane petrol.
Diesel motorists can expect a price hike ranging from 104 to 106 cents per litre, depending on the specific type of diesel they use.
In addition, illuminating paraffin prices are also projected to increase by 92 cents.
The Main Drivers of Fuel Price Increases
Two primary factors are influencing the sharp rise in fuel prices: global oil prices and the rand/dollar exchange rate.
- Oil Prices: As of mid-January, the price of Brent crude oil stands at $81.70 per barrel, continuing to put pressure on fuel prices globally.
- Exchange Rate: At the same time, the rand is trading at R18.77 to the US dollar, further exacerbating the fuel price increases in South Africa.
With these two factors showing little sign of improving in the short term, fuel price hikes are expected to continue.
What South Africans Are Paying for Fuel in January 2025
The current fuel prices for January 2025 across inland and coastal regions are as follows:
- Inland Prices (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 Prices (January 2025):
- Petrol 93: R20.55
- Petrol 95: R20.80
- Diesel 0.05%: R18.50
- Diesel 0.005%: R18.68
- Illuminating Paraffin: R12.26
What’s Next for South African Motorists?
If the market conditions remain consistent—though unpredictable with fluctuating oil prices and exchange rates—the price hikes will take effect starting midnight on Tuesday, February 4, 2025.
With these increases looming, it might be a good idea for South Africans to ease off the accelerator until the new price adjustments hit.
Stay tuned for the final confirmation of the price changes early next month, and make sure to keep a close eye on any further developments in the global oil market and the rand/dollar exchange rate.
This article was published on TDPel Media. Thanks for reading!
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