The petrol price is going up in February

The petrol price will increase by six cents a litre on Wednesday next week, the Department of Energy has announced.

The price of diesel however, will decrease by 62 cents a litre – a result of oversupply, while the price of paraffin will drop by 79 cents.

The price of oil continues to trade a record lows – causing the World Bank to cut its oil price forecast to $37 a barrel, from $52 three months ago.

A soft rand however, means very little of that is passed on to the South African consumer.

The local currency has shown signs of recovery in recent sessions – dipping below R16 rand and extending its post-rate hike rally.

It was priced at R15.94 against the dollar, down from a worst level of R17.995 in December.

Here are the current inland prices for petrol and diesel:

  • 93 LRP – R12.09
  • 95 LRP – R12.37
  • Diesel 0.05% Sulphur – R10.05
  • Diesel 0.005% Sulphur – R10.10

More on fuel prices

Expected petrol and diesel price changes for February

What the SA petrol price could look like in 2020

Petrol price in South Africa: 2015 vs 2014

 

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The petrol price is going up in February