Petrol price increase

Big Fuel Price Increases Expected in February: What South African Motorists Need to Know

Learn about the significant petrol price hike predictions for February based on unaudited fuel data from the Central Energy Fund.

Motorists in South Africa should prepare for a notable increase in petrol prices come February. The latest unaudited fuel data from the Central Energy Fund (CEF) indicates substantial hikes across all grades of fuel. According to forecasts, there will be a significant surge at the petrol pumps starting next Wednesday. The Automobile Association has cautioned drivers to expect 93LP and 95LP petrol prices to rise by R0.64 to R0.66 per litre, with diesel and paraffin also experiencing increases.

Economists are warning of multiple fuel price hikes looming in the near future. The current data suggests that motorists should consider filling up before the expected hefty increases kick in next month. The fuel price surge is anticipated to surpass 60 cents per litre for both petrol and diesel. The AA predicts a significant increase, with the price of 95 octane petrol expected to climb from R22.44 cents to R23.15 cents per litre.

As the official petrol price adjustments are scheduled to take effect on Wednesday, 7 February 2024, drivers are urged to take note of the 75 cents per litre hike in petrol prices and a 70 to 75 cents increase in diesel costs. The looming fuel price surge follows unaudited data from the Central Energy Fund, signaling an impending increase from midnight tonight. With the prices of both petrol and diesel exceeding initial expectations, motorists are advised to fill up their vehicles before the anticipated midnight changes.