Consumers will need to dig deeper into their pockets this month as all grades of petrol, diesel, paraffin, and LP gas are expected to increase, starting tomorrow.
This is according to an announcement by the Department of Mineral and Petroleum Resources (DMPR) on Tuesday.
The price adjustments for fuel, paraffin and gas for February are as follows:
- Petrol 93 (ULP & LRP): 82c increase.
- Petrol 95 (ULP &LRP): 82c increase.
- Diesel (0.05% sulphur): R1.05 increase.
- Diesel (0.005% sulphur): R1.01 increase.
- Illuminating Paraffin (wholesale): 97c increase.
- Single Maximum National Retail Price for illuminating paraffin: R1.29 increase.
- Maximum LPGas Retail Price: 42c increase.
The increase means a litre of petrol 95 ULP, which currently costs R21.59 a litre in Gauteng, will now cost R22.41 as of Wednesday.
The department explained that the increases result from several local and international factors.
“The average Brent Crude oil price increased from 72.78 US Dollars (USD) to 77.41 USD during the period under review. On the other hand, supply was affected by OPEC+ decision to delay production increase until April 2025 as well as new sanctions against Russia and Iran which could further constrain supply and result in higher freight rates.
“The average international petroleum product prices followed the increasing trend of crude oil while the prices of LPG increased because of higher freight cost amid the cold winter season in the Northern Hemisphere. These factors led to higher contributions to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by 46.06 c/l, 66.26 c/l and 58.64 cents per litre (c/l) respectively.
“The Rand depreciated on average, against the US Dollar (from 18.11 to 18.73 Rand per USD) during the period under review when compared to the previous one. This led to higher contributions to the Basic Fuel Prices of petrol, diesel and Illuminating Paraffin by 36.85 c/l, 39.58 c/l and 38.61 cents per litre (c/l) respectively,” the department said. – SAnews.gov.za
