The Department of Mineral and Petroleum Resources recently confirmed that petrol and diesel prices would rise starting on the first day of 2025.
As of Wednesday, 5 January 2025, motorists will pay between 12 and 19 cents more per litre of petrol, and between 7.50 and 10.50 cents more per litre of diesel.
Petrol Price Adjustments - January 2025
- Petrol (93 ULP & LRP): Increase of 19 cents per litre
- Petrol (95 ULP & LRP): Increase of 12 cents per litre
- Diesel (0.05% sulphur): Increase of 7.5 cents per litre
- Diesel (0.005% sulphur): Increase of 10.5 cents per litre
- Illuminating Paraffin (Wholesale): Decrease of 9.5 cents per litre
- Illuminating Paraffin (SMNRP): Decrease of 13 cents per litre
- Maximum LPGas Retail Price: Increase of 13 cents per kilogram
Fuel Prices
Fuel Type | Inland Price | Coastal Price |
---|---|---|
93 Petrol | 21.34 | 20.55 |
95 Petrol | 21.59 | 20.8 |
Diesel 0.05% (wholesale) | 19.29 | 18.5 |
Diesel 0.005% (wholesale) | 19.44 | 18.68 |
Illuminating Paraffin | 13.26 | 12.26 |
LPGAS (per kg) | 38.29 | 35.33 |
Why Are Petrol Prices Increasing In January 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.
During the review period, there was a slight decline in the Brent Crude oil price, from $73.28 to $72.70 per barrel. This was largely due to OPEC+ maintaining production levels and increased output from non-OPEC countries. These developments contributed to the fuel price adjustments.
While global petrol prices fell due to weaker seasonal demand, diesel and illuminating paraffin saw price increases driven by heightened winter demand in the Northern Hemisphere. Additionally, LPG prices rose as a result of higher propane and butane costs.
The Rand also depreciated from R17.53 to R17.93 against the US Dollar during the review period, increasing the cost of importing crude oil and petroleum products.
Industry margins for petrol rose by 15.4 cents per litre, and by 8.88 cents for diesel and illuminating paraffin. However, the slate levy remained unchanged due to a positive balance of R4.84 billion for petrol and diesel.
Since the election of President-elect Donald Trump of the USA at the beginning of November we have seen the US dollar strengthening and strengthening against all currencies across the world so we are just a victim of that global matter.