The Department of Mineral and Petroleum Resources recently confirmed that petrol and diesel prices increased in February.
Both grades of petrol will increase by 82 cents per litre, while diesel prices will rise by 105 cents per litre (0.05% sulphur) and 101 cents per litre (0.005% sulphur). Illuminating paraffin, widely used for cooking and heating, will increase by 97 cents per litre, while the Single Maximum National Retail Price (SMNRP) for illuminating paraffin will climb by R1,29 cents per litre.
LPGas users will also be affected, with a 42 cents per kilogram increase.
Fuel Price Adjustments - February 2025
- Petrol 93 (ULP & LRP): Eighty-two cents per litre (82.00 c/l) increase.
- Petrol 95 (ULP & LRP): Eighty-two cents per litre (82.00 c/l) increase.
- Diesel (0.05% sulphur): One hundred and five cents per litre (105.00 c/l) increase.
- Diesel (0.005% sulphur): One hundred and one cents per litre (101.00 c/l) increase.
- Illuminating Paraffin (wholesale): Ninety-seven cents per litre (97.00 c/l) increase.
- SMNRP for IP: One hundred and twenty-nine cents per litre (129.00 c/l) increase.
- Maximum LPGas Retail Price: Forty-two cents per kilogram (42.00 c/kg) increase.
Month-to-month Fuel Price Changes
|
Fuel Type |
January (Inland) |
February (Inland) |
January (Coastal) |
February (Coastal) |
|
93 Petrol |
R21.34 |
R22.16 |
R20.55 |
R21.37 |
|
95 Petrol |
R21.59 |
R22.41 |
R20.80 |
R21.62 |
|
Diesel 0.05% (wholesale) |
R19.29 |
R20.34 |
R18.50 |
R19.55 |
|
Diesel 0.005% (wholesale) |
R19.44 |
R20.45 |
R18.68 |
R19.69 |
|
Illuminating Paraffin |
R13.26 |
R14.23 |
R12.26 |
R13.23 |
|
LPGAS (per kg) |
R38.29 |
R38.71 |
R35.33 |
R35.75 |
Why Fuel Prices Are Increasing In February 2025
The price of fuel in South Africa is influenced by several factors, including the price of Brent Crude Oil, production levels from the Organization of the Petroleum Exporting Countries (OPEC), and exchange rates.
The price of Brent Crude oil increased from $72.78 to $77.41 per barrel during the review period.
This was driven by higher demand due to cold weather in the Northern Hemisphere and expectations of increased oil consumption in China following economic stimulus measures.
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 Rand also weakened against the US Dollar during the review period. Depreciation from R18.11 to R18.73 per USD.
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 confirmed that the slate levy will remain unchained for February 2025.
