Last week, unaudited data report by the Automobile Association (AA) predicted that the price of petrol would increase by up to 82 cents a litre, diesel by 59 cents and illuminating paraffin by 60 cents.
Mineral Resources and Energy Minister Gwede Mantashe announced the adjustment of fuel prices based on current local and international factors on Monday afternoon.
The main reasons for the fuel price adjustments are due to the rand/US dollar exchange rate, the increase in the prices of crude oil and petroleum products prices, Mantashe said in a statement.
The fuel prices for February 2021 will be adjusted as follows:
- Petrol (both 93 ULP and LRP): 81 cents per litre (81.00 c/l) increase
- Petrol (both 95 ULP and LRP): 81 cents per litre (81.00 c/l) increase
- Diesel (0.05% sulphur): 58 cents per litre (58.00 c/l) increase
- Diesel (0.005% sulphur): 59 cents per litre (59.00 c/l) increase
- Illuminating Paraffin (wholesale): 59 cents per litre (59.00 c/l) increase
- SMNRP for IP: 78 cents per litre (78.00 c/l) increase