WHEN it rains, it pours.
That can be said for the speedy increase of fuel prices in South Africa.
Just this month, January, fuel prices went up.
Hardly a month, we are now told of another hike looming.
And unfortunately for the motorists, this one is likely to be heavier.
According to the latest unaudited data from the Central Energy Fund, increases in the international oil price and the rand’s weakness against the dollar will result in significant price hikes this coming February.
Fuel prices are adjusted on the first Wednesday of every month.
The expected adjustments for February 2025 include a 68 cent per litre increase for Petrol 93, a 64 cent increase for Petrol 95, a 70 cent per litre increase for Diesel 500 ppm and a 74 cents per litre for Diesel 50 ppm.
Illuminating Paraffin could see a 49 cent increase.
According to the Central Energy Fund, several key factors are driving these expected increases.
The Department of Mineral Resources and Energy (DMRE) will officially announce the fuel price adjustments at the end of January 2025, with new prices effective from Wednesday, 5 February 2025.
