The price of petrol may rise by as much as R1 per litre next month (4 March), while the wholesale price of diesel may go up by 80 cents.<\/p>\n
This is according to Paul Joubert, senior economic researcher at the Solidarity Research Institute, and would follow seven straight months fuel cuts stretching back to August 2014.<\/span><\/p>\n Joubert<\/span> noted that from an average price of about $44.40 per barrel in January, the price of a barrel of the Organisation of Petroleum Exporting Countries (Opec)\u2019s oil has so far in February traded at about $53.10 \u2013 an increase of about 20%.<\/p>\n “With the weakening of the rand since 8 February the average exchange rate is also no longer serving as a cushion against the rising dollar oil price,” the research lead said.<\/p>\n The expected prices for March would still be approximately R3 per litre cheaper than in the same period a year ago, the institute said.<\/p>\n In the first week of February, the price of all grades of petrol dropped by 93 cents a litre.<\/p>\n In early January the price of 93 and 95 octane petrol decreased by R1.27 and R1.23 a litre.<\/p>\n The current price for a litre of 95 Octane petrol in Gauteng is R10.31.<\/p>\n According to the latest data from the Central Energy Fund, the fuel price is showing the following under-recovery<\/strong>:<\/p>\n Solidarity that the applicable period during which the price changes are determined still run to 26 February, while the final announcement will be made on 27 February.<\/p>\n Petrol price increase on the cards<\/strong><\/a><\/p>\n SA petrol price set for big drop in February<\/a><\/strong><\/p>\n\n
More on the petrol price<\/h3>\n