Motorists in South Africa will have to dig deeper into their pockets as fuel prices are set to increase from Wednesday, 5 February 2025.
Fuel prices in South Africa: Official adjustments from Wednesday, 5 February 2025
PLEASE NOTE: The petrol price adjustments listed below are directly quoted from the Department of Energy’s monthly press release. Despite our best efforts to ensure accurate reporting, it is still the sole responsibility of the reader to double-check petrol prices. Swisher Post, its parent company, partners and affiliates shall not be held liable for any consequence that arises from the journalistic duties performed in sharing this content.
The Department of Mineral Resources and Energy has confirmed the adjustments, which will see petrol, diesel, illuminating paraffin, and liquefied petroleum gas (LPG) all become more expensive.
From midnight on Tuesday, 4 February 2025, the price of petrol 93 and 95 (ULP & LRP) will increase by 82 cents per litre.
This means that in Gauteng, a litre of 95 ULP will now cost around R22.41. Diesel users will be hit even harder, as the price of diesel 0.05% will rise by R1.05 per litre, while diesel 0.005% will go up by R1.01 per litre.
Households that rely on illuminating paraffin will also feel the pinch, as the wholesale price will increase by 97 cents per litre, with the single maximum retail price going up by R1.29 per litre.
For consumers using LPG, the price will increase by 42 cents per kilogram, affecting households and businesses that rely on gas for heating and cooking.
Here’s a look at the official fuel price adjustments for February:
Inland
TYPE | PRICE (p/l) | CHANGE |
Petrol 95 | R22.41 | +R0.82 |
Petrol 93 | R22.16 | +R0.82 |
Diesel 0.05%* | R21.70 | +R1.05 |
Diesel 0.005%* | R20.45 | +R1.01 |
Coastal
TYPE | PRICE (p/l) | CHANGE |
Petrol 95 | R21.62 | +R0.82 |
Petrol 93 | R21.37 | +R0.82 |
Diesel 0.05%* | R19.55 | +R1.05 |
Diesel 0.005%* | R19.69 | +R1.01 |
Factors impacting fuel prices in February 2025
Several key factors have contributed to these price hikes, including rising international oil prices, a weaker rand, and increased product costs on global markets.
Higher international oil prices
During the past month, the cost of refined petrol, diesel, and illuminating paraffin increased globally, pushing up the price of importing fuel into South Africa. This trend has placed additional pressure on fuel costs, contributing to the latest price hikes.
The rand’s depreciation against the US dollar
A weaker rand has also played a significant role in the price increases.
The average exchange rate for the review period (27 December 2024 – 30 January 2025) was R18.73 per US dollar, compared to R18.11 in the previous period.
This decline in the rand’s value means that importing fuel has become more expensive.
As a direct result of the weaker currency, petrol prices increased by 37 cents per litre, diesel by 40 cents per litre, and illuminating paraffin by 39 cents per litre.
No adjustments to the slate levy
The slate levy, which is used to stabilise fuel price fluctuations, remains at 0 cents per litre, meaning that there has been no intervention to offset the price hikes.
What goes into the final retail price of fuel in South Africa?
Determining the final retail price of petrol in South Africa relies heavily on the rand’s performance in currency markets and oil price movements.
Using this information, the CEF can formulate basic fuel price (BFP) estimates which, in essence, offer South African importers a snapshot into the cost of buying petrol from an international refinery, transporting the product and ensuring it against possible losses at sea and on land.
However, before the retail price of petrol is finalised at petrol stations, several additional costs are included in the BFP:
Government levies
- IP tracer levy (reimbursement to the oil industry for buying IP tracer dye and injecting it into IP to curtail the mixing of IP and diesel)
- General Fuel levy (tax levied by the government)
- Slate levy (to finance the cumulative under-recovery of the industry)
- RAF levy (to compensate for people involved in road crashes and accidents)
- Petroleum products levy (reimbursement to the pipeline users for the applicable NERSA tariff on transporting fuel through the pipeline)
Additional costs
- Wholesale margin (markup to the price of a product to account for wholesaling costs)
- Service cost recoveries
- Storage, handling and delivery costs
- Distribution costs
- Dealers margin (commission to the fuel pump dealers for retail operation)
- Zone differential (applicable to inland regions)
- Customs and excise duty
Petrol price adjustments are generally made on the first Wednesday of every month by the Department of Energy.