Brace yourself South Africa! The holiday is now really over and current unaudited fuel data from the Central Energy Fund (CEF) is showing significant price increases for all grades of fuel in February. 

According to the data, 93 ULP and 95 ULP petrol are expected to climb by between 64 c/l and 66 c/l respectively, while diesel is expected to increase by around 63 c/l. Illuminating paraffin is expected to be 47 c/l more expensive in February than it is now.

“The movement in international oil prices is contributing a significant percentage to the increases while the weaker average Rand to US Dollar exchange is adding an impactful but smaller margin to the expected increases,” says the Automobile Association.

Based on these numbers, a litre of 9 5ULP inland will climb from its current level of R22,49 l/ to R23,15 /l, while the price of 93 ULP inland will increase from R22,17 /l to R22,81 /l.

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“The increases to the prices of petrol will have a negative impact on household budgets at this early part of the year while most consumers are still recovering from festive season spending and stretched budgets. The cumulative effect on personal finances will be a further reduction of disposable income which will be exacerbated by increases to goods and services which must recoup the higher fuel input costs.

“We again urge consumers to monitor their fuel usage carefully, and to budget according to the new fuel prices which come into effect next Wednesday. Ensuring vehicles are well maintained and in good mechanical condition, carefully planning routes, and avoiding heavy traffic, if possible, are some ways in which motorists can ensure better fuel consumption.”

Colin Windell