Cape Town – South African motorists could once more face an increase in petrol and diesel prices in February after the latest data from the Central Energy Fund (CEF) suggest a potential rise.
IOL reported that the latest data released by the CEF indicated an increase of around 25 cents for 95 Unleaded petrol and 32 cents for 93 ULP. However, things could get worse if current patterns continued.
Increases may rise closer to 70 cents if current trends persisted until the end of this week.
The report also said that 500ppm diesel could likely see a 5-cent increase, potentially climbing to around 40 cents.
What the data says:
Petrol 93: increase of 32 cents a litre;
Petrol 95: increase of 25 cents a litre;
Diesel 0.05%: increase of 6 cents a litre;
Diesel 0.005%: decrease of 6 cents a litre;
Illuminating paraffin: increase of 8 cents a litre.
According to The South African, fuel prices were affected by the international price of petroleum products, driven mainly by oil prices and the rand/dollar exchange rate used in the purchase of these products.
Business Insider said that oil was feeding into a 9 to 45 cents per litre under-recovery in international petroleum product prices.
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Picture: Pixabay
Compiled by Junaid Benjamin
