{"id":110781,"date":"2016-01-29T19:16:04","date_gmt":"2016-01-29T17:16:04","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=110781"},"modified":"2016-01-29T19:17:24","modified_gmt":"2016-01-29T17:17:24","slug":"the-petrol-price-is-going-up-in-february","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/energy\/110781\/the-petrol-price-is-going-up-in-february\/","title":{"rendered":"The petrol price is going up in February"},"content":{"rendered":"

The petrol price will increase by six cents a litre on Wednesday next week, the Department of Energy has announced.<\/p>\n

The price of diesel however, will decrease by 62 cents a litre – a result of\u00a0oversupply, while the price of paraffin will drop by 79 cents.<\/p>\n

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.<\/p>\n

A soft rand however, means very little of that is passed on to the South African consumer.<\/p>\n

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

It was priced at R15.94 against the dollar, down from a worst level of R17.995 in December.<\/p>\n

Here are the current inland prices for petrol and diesel:<\/p>\n