DStv Channel 403 Friday, 07 February 2025

Motorists to dig deeper in their pockets as fuel prices go up on Wednesday

No love at the pumps

JOHANNESBURG - Fuel prices increase sharply as from Wednesday.

Both grades of petrol will increase by 82c a litre, while the price of diesel rises by R1,01c a litre. Illuminating paraffin will cost 97c a litre more.

READ: Fuel hikes possible in February

One of the reasons for the increases is a weaker rand, which is set to remain volatile against the US dollar amid global trade policy uncertainty.

There was also an increase of nearly $5 in the average Brent Crude oil price due to increased demand in the northern hemisphere with a cold winter season, as well as in China following economic stimulation policies.

Supply was also affected by OPEC-plus' decision to delay production increases and new sanctions against Russia and Iran.

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