Fuel prices in South Africa are set for a sharp increase in February 2025, with global oil prices soaring and the rand weakening against the US dollar. According to Central Energy Fund (CEF) projections, South Africans may see significant hikes at the pump. But what’s driving this surge, how will it affect motorists, and what can consumers do to minimize the impact? Here’s everything you need to know about the latest fuel price updates.
How Much Will Fuel Prices Increase in February 2025?
Recent CEF data suggests an alarming under-recovery across all fuel types, signaling an imminent price surge. The estimated price gaps per liter as of mid-January 2025 are:
| Fuel Type | Projected Under-Recovery (per liter) |
|---|---|
| Petrol 95 ULP | R1.41 |
| Petrol 93 ULP | R1.50 |
| Diesel 0.05% Sulphur | R1.92 |
| Diesel 0.005% Sulphur | R1.83 |
| Illuminating Paraffin | R1.71 |
Based on these figures, South Africans could see:
- Petrol increasing by R1.40+ per liter.
- Diesel surging by over R1.90 per liter.
- Illuminating paraffin rising significantly.
Why Are Fuel Prices Rising in South Africa?
Two major factors are driving February 2025’s fuel price increase:
How Are Global Oil Prices Affecting Fuel Costs?
- Brent crude oil has surged to $80 per barrel as of mid-January 2025, marking a steady increase.
- Geopolitical tensions in major oil-producing regions are limiting supply, driving up prices.
- Global demand for fuel remains high, further influencing price hikes.
What Is the Impact of a Weak Rand on Fuel Prices?
- The rand has depreciated significantly against the US dollar, making fuel imports more expensive.
- On January 14, 2025, the rand hit new lows, increasing the cost of petroleum imports.
- Since fuel prices are linked to the exchange rate, a weaker rand translates to higher local pump prices.
How Will the Fuel Price Increase Affect Consumers?
Rising fuel costs will have a direct impact on everyday life in South Africa, affecting motorists, businesses, and overall living costs.
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How Much More Will Motorists Pay for Fuel?
Motorists will feel the pinch as the price per liter jumps. Here’s how much more it could cost to fill up:
- Petrol 95 ULP (45L tank): Extra R63.45 per full tank.
- Diesel 0.05% Sulphur (45L tank): Extra R86.40 per full tank.
For those who rely on their vehicles daily, these costs could add up significantly over the month.
Will Fuel Price Hikes Affect the Cost of Goods & Services?
Yes! Diesel prices play a crucial role in transportation costs, affecting:
- Food prices – Higher transport costs lead to increased grocery prices.
- Manufacturing & raw materials – Businesses pass higher costs onto consumers.
- Public transport fares – Taxi and bus operators may adjust fares upwards.
When Will the Official Fuel Price Be Announced?
The Department of Mineral Resources and Energy (DMRE) is expected to confirm the new prices by the end of January 2025. These adjustments will take effect from midnight on Tuesday, 4 February 2025. Motorists are advised to stay updated through official announcements to avoid misinformation.
How Can You Prepare for Higher Fuel Prices?
With fuel costs set to rise, South Africans can take several measures to reduce the financial burden:
- Drive efficiently: Reduce speed, avoid unnecessary acceleration, and keep tires properly inflated.
- Carpool whenever possible: Sharing rides can cut fuel expenses significantly.
- Use public transport when feasible: Consider alternative cost-effective transport options.
- Plan your refueling wisely: Fill up before price hikes are implemented.
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FAQs
When will the fuel price increase take effect?
The new prices are expected to be implemented from midnight on 4 February 2025.
How are fuel prices determined in South Africa?
Fuel prices are based on international oil prices, exchange rates, and local government levies.
Will diesel prices rise more than petrol in February 2025?
Yes, diesel prices are projected to increase more than petrol due to higher under-recoveries.
How does a weaker rand impact fuel prices?
Since fuel is imported, a weaker rand makes fuel purchases more expensive, raising local prices.
Can I lock in lower fuel prices before the increase?
Yes! If possible, fill up before 4 February 2025 to save on upcoming price hikes.
Will the price increase affect paraffin users?
Yes, illuminating paraffin will also see a price surge, impacting households that rely on it for cooking and heating.
Is the government planning any fuel subsidies?
There are no confirmed subsidies for February 2025, but future interventions may be considered.
Where can I check official fuel price updates?
Always refer to the DMRE website or official SASSA announcements for accurate updates.
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