petrol decrease SA
Fuel price projections for July 2024. Image: Pixabay

Home » Fuel price watch: Increase in petrol,diesel prices next week

Fuel price watch: Increase in petrol,diesel prices next week

The latest fuel projections for February 2024 shows that bad news lies ahead for diesel and petrol car owners next week.

petrol decrease SA
Fuel price projections for July 2024. Image: Pixabay

The latest fuel projections from the Central Energy Fund (CEF) for February 2024 shows that BAD news lies ahead for diesel and petrol car owners next week.

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The data is trending towards an increase for both diesel and petrol next month.

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This news comes on the back of price decreases for both petrol and diesel earlier this month, as reported by The South African website.

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Below, the latest projections as received by The South African website from the CEF, effective Friday, 26 January 2024.

Petrol 93increase of 52 cents
Petrol 95increase of 54 cents
Diesel 0.05%increase of 51 cents
Diesel 0.005%increase of 47 cents
Illuminating Paraffinincrease of 38 cents

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 52 cents is expected for petrol 93 octane motorists and an increase of 54 cents for 95 users.

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Meanwhile, diesel motorists would see between a 47 to 51 cents per litre increase.

Finally, illuminating paraffin is expected to increase by 38 cents.

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1. The international price of petroleum products, driven mainly by oil prices

2. The rand/dollar exchange rate used in the purchase of these products

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Oil price

At the time of publishing the brent crude oil price is $83.88 a barrel.

Exchange rate

At the time of publishing the rand/dollar exchange rate is R18.81/$.

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The final overall price changes for both petrol and diesel will be confirmed in the weeks ahead with the new prices coming into effect at midnight on Tuesday, 6 February.

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Go easy on the accelerator until then, Mzansi.

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The current JANUARY 2024 petrol and diesel prices (Inland and Coastal):

Petrol 93R22.17
Petrol 95R22.49
Diesel 0.05%R20.63
Diesel 0.005%R20.73
Illuminating ParaffinR15.31
Petrol 93R21.45
Petrol 95R21.77
Diesel 0.05%R19.91
Diesel 0.005%R20.04
Illuminating ParaffinR14.38