Here’s how much you can expect to pay for petrol next week

·29 Jan 2019

The petrol price is expected to rise in February, while diesel is likely to decrease, according to the Automobile Association (AA), which was commenting on unaudited month-end fuel price data released by the Central Energy Fund.

“International oil prices have reached a slightly higher plateau after climbing in the first half of January,” the AA said.

“Over the same period, the rand has firmed gradually against the US dollar. It began the month at nearly R14.50 to the dollar and is current hovering around R14.00, offsetting the oil price rise to some degree.”

While oil prices are reportedly seeing their best January in 14 years, the price of international crude has climbed steadily throughout the month.

At current prices, Brent crude has settled above $60 a barrel, after hitting lows close to $50 a barrel in December 2018.

The recent rise in oil prices comes down to international pressures on the commodity – most notably an economic slowdown in China, and political issues between the US and Venezuela.

The current picture shows petrol increasing by around eight cents a litre, while diesel is set to drop by three cents and illuminating paraffin by nine cents. The difference in the price changes relates mainly to the differences in the international product prices of diesel and petrol, the association said.

“What is worth noting is that the average rand strength against the US dollar has been increasing for nearly a month, and we are hopeful this may point to a period of greater stability for the currency,” the AA said.

“If international oil prices continue their current stable trend, South African fuel users may see fewer of the wild swings in fuel prices which characterised 2018,” it said.

Here is the expected petrol price for February: