After a torrid end to 2021 where fuel prices increased by more than R5 over the year, motorists breathed a sigh of relief when the price decreased in January. This relief is short-lived as the price of fuel is set to increase again.
The Department of Mineral Resources and Energy has announced the fuel adjustment for February 2022.
Petrol will once again breach the R20 barrier with 95 octane petrol costing motorists R20.14 per litre while 93 octane petrol will set motorists back R19.89 per litre.
The price of 0.05% diesel will cost R18.04 (wholesale). Illuminating Paraffin will also cost consumers R1.1 more than it did in January.
Here’s a full list of price increases that will take effect from 2 February 2022
- Petrol (both 93 and 95 ULP & LRP) will increase by fifty-three cents per litre (53.00 c/l)
- Diesel (0.05% sulphur): will increase by seventy-nine point eight four cents per litre (79.84 c/l)
- Diesel (0.005% sulphur) will increase by seventy-eight point eight four cents per litre (78.84 c/l)
- Illuminating Paraffin (wholesale) will increase by one hundred and one cents per litre (101.00 c/l)
- SMNRP for IP will increase by one hundred and thirty-five cents per litre (135.00 c/l)
- Maximum LPGas Retail Price will decrease by one hundred and twenty-four cents per kilogram (124.00 c/kg)
The department attributed the increase in prices to the movement of international petroleum prices. The rand did appreciate slightly against the US dollar which led to lower contributions to the basic price of fuel.
They explained, “While petrol stocks increased, middle-distillate stock decreased due to unplanned outages resulting in lower levels of diesel and jet fuel stocks hence higher prices of petroleum products”.
The Automobile Association of South Africa has described the increases for February as significant. They add the increase in the price for illuminating paraffin will particularly affect poor people as they rely on it for lighting, heating and cooking.
“The increases for February are significant and push our country’s fuel prices near record territory again and will, undoubtedly, have a knock-on impact on other consumer products and services,” noted the Association.
The price of 95 octane petrol has increased from R15.67 in February 2021 to R20.14 in February 2022. This represents an increase of around R4.47 per litre.