February petrol price increase to kick in on Wednesday

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The Department of Energy has released the latest fuel price data and it looks as if February will see a slight petrol increase. Here are the official petrol prices for February 2019.

While motorists have seen relief in petrol prices in the past two months, February will see an increase. Expect to pay 7 cents more per litre for 93 and 95 grades of petrol and 1 or 2 cents more for diesel. Expect to pay 5 cents less for illuminating paraffin.

The reason for the increases in petrol prices this month is the result of the average international product prices for petrol, diesel and illuminating paraffin increasing during the period under review.

The Rand appreciated against the US Dollar during the period under review, on average, when compared to the previous period. The average Rand/US Dollar exchange rate for the period 27 December 2018 to 31 January 2019 was 13.9476 compared to 14.1778 during the previous period. This led to a lower contribution to the Basic Fuel Prices on petrol, diesel and illuminating paraffin by 9.24 c/l, 10.85 c/l and 10.97 c/l respectively. One of the biggest factors is also the increase in the price of oil in the month of January.

In line with the Self-Adjusting Slate Levy Mechanism Rules, the Slate levy on petrol and diesel will remain at 0.00 c/l with effect from 6 February 2019.

Here are the official petrol prices for February 2019: