Petrol price increase next week
Motorists can expect a sharp increase in petrol price of between 52 cents and 54 cents per litre in February, with diesel set to rise between 47 cents and 51 cents.
This is according to month-end data from the Central Energy Fund prior to the official announcement from the Department of Mineral Resources and Energy.
This is due to a rise in the price of oil due to the conflict in the Middle East and rising geopolitical tensions.
The local pricing is still reflecting the surge in oil prices seen at the end of last week when separate attacks in the Middle East – on US troops in Jordan and a hit on a fuel tanker in the Red Sea – sent prices to the highest point in months.
If these market conditions were to remain consistent for the remainder of the month – an unlikely scenario with the rand/dollar exchange rate ever fluctuating and the oil price changing – an increase of 64 cents is expected for petrol 93 octane motorists and an increase of 66 cents for 95 users.
Meanwhile, diesel motorists would see between a 59 to 63 cents per litre increase.
Finally, illuminating paraffin is expected to increase by 47 cents.
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