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Major fuel price hike coming up in February

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South African motorists are in for a massive fuel price increase from the beginning of this month.

According to data from the Central Energy Fund, motorists can expect to pay 82c more for petrol, 59c for diesel and 60c for illuminating paraffin.  This will bring the price of a litre of 95 Unleaded petrol to R14.90 at the coast and R15.68 inland. A litre of 93 ULP petrol will now cost R15.51.

The Automobile Association notes that even though the Rand has performed significantly better in the past few months than it did during the peak of the Covid-19 crises, oil prices have steadily risen. 

“Unfortunately, our mid-month concerns over the advancing oil prices have been borne out in practise. There has been a slow, but steady, rise in the price of oil which is likely to cause ongoing pain at the pumps, explains the AA.

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