South African motorists will have to dig deeper into their pockets as fuel prices are set to rise significantly from 5 February 2025.
The Minister of Mineral and Petroleum Resources has announced the latest adjustments, citing a combination of international and local economic factors driving the increase.
South Africa’s fuel prices are reviewed monthly, influenced by global crude oil prices, international petroleum product costs, and the exchange rate between the Rand and the US dollar.
This month’s surge is attributed to:
Brent Crude oil prices climbed from $72.78 to $77.41 per barrel due to increased demand driven by cold weather in the Northern Hemisphere and China’s economic stimulus measures.
At the same time, supply constraints arose as OPEC+ postponed production hikes until April 2025, coupled with sanctions against Russia and Iran, which pushed up freight rates.
Following the crude oil price trend, international petroleum product prices also spiked. Liquefied Petroleum Gas (LPG) saw an additional surge due to rising freight costs amid the winter season.
This led to price increases of 46.06 cents per litre (c/l) for petrol, 66.26 c/l for diesel, and 58.64 c/l for illuminating paraffin.
The rand depreciated against the US Dollar, averaging R18.73 per dollar compared to R18.11 in the previous period. This resulted in additional price hikes of 36.85 c/l for petrol, 39.58 c/l for diesel, and 38.61 c/l for illuminating paraffin.
The fuel price adjustments taking effect on 5 February 2025 are as follows:
-Petrol 93 & 95: up 82 cents per litre
-Diesel (0.05% sulphur): up 105 cents per litre
-Diesel (0.005% sulphur): up 101 cents per litre
-Illuminating Paraffin (wholesale): up 97 cents per litre
-SMNRP for IP: up 129 cents per litre
-Maximum LPG Retail Price: up 42 cents per kilogram
The official fuel price schedule for different zones will be released on 4 February 2025.
With these increases, South Africans can expect higher transport costs, which could have a knock-on effect on food and goods prices.
| Inland | January Official | February Official |
| 93 Petrol | R21.34 | R22.16 |
| 95 Petrol | R21.59 | R22.41 |
| Diesel 0.05% (wholesale) | R19.29 | R20.34 |
| Diesel 0.005% (wholesale) | R19.44 | R20.45 |
| Illuminating Paraffin | R13.26 | R14.23 |
| LPGAS (per kg) | R38.29 | R38.71 |
| Coastal | January Official | February Official |
| 93 Petrol | R20.55 | R21.37 |
| 95 Petrol | R20.80 | R21.62 |
| Diesel 0.05% (wholesale) | R18.50 | R19.55 |
| Diesel 0.005% (wholesale) | R18.68 | R19.69 |
| Illuminating Paraffin | R12.26 | R13.23 |
| LPGAS (per kg) | R35.33 | R35.75 |
