Motorists to feel pinch as fuel prices hiked
South African motorists will have to dig deeper into their pockets to fill up their tanks in February.
The Department of Energy announced on Tuesday that the price for both petrol and diesel will increase from Wednesday.
The price of petrol is expected to increase by 28 cents per litre, while the price of diesel will increase by between 9 cents per litre and 0.84 cents per litre.
The price of illuminating paraffin will go up by 58 cents per litre.
The Energy Department’s spokesperson Robert Maake says the main reason for the increase is the international oil price.
"The average Brent Crude oil price increased from $85.08 per barrel to $86.16 per barrel during the period under review. The main contributing factor is the re-opening of the Chinese economy.
“The movement in international refined petroleum product prices, diesel, petrol and illuminating paraffin in particular followed the increasing trend in crude oil prices, while the prices of LP gas decreased due to lower propane and butane prices during the period under review. These factors led to higher contributions to the basic fuel prices of petrol, diesel and illuminating paraffin," says Maake.
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