February’s official fuel prices are in: you might want to cover your eyes

Trent Meikle

10 months ago

After spending the better part of January living in denial of the Central Energy Fund’s increasingly depressing run of petrol and diesel price predictions, it’s time to face the music. The Department of Mineral Resources and Energy has brought to an end what could have been a four-month-long streak of fuel price decreases — having just published the official figures that’ll be hitting the country’s pumps on Wednesday, 7 February.

What are you still doing here? Go and fill up

Honestly, considering the circumstances, February’s price hikes aren’t nearly as rough as they might have been. The last time the country felt the sting of an increase — at least where petrol and diesel prices are concerned — was back in October 2023 at nearly R2/litre.

Still, it doesn’t make the roughly 70c price hike across the board any less nasty. If you’re the type to take and listen to advice — head down to the nearest petrol station. Now. Before the news starts to leak out and leaves you sitting at the pumps for an extra twenty minutes. We’ll wait.

The Department isn’t entirely at fault for the country’s rising (or decreasing) prices. That’s not to say it’s entirely blameless — it’s in charge of the slate levy mechanism that has rarely ever aligned with the country’s wishes. But the brunt of the blame (or praise) simply lies with the economy — specifically the average Rand/US Dollar exchange rate and price of refined oil globally. Both of these saw an appreciation throughout January, ultimately landing us in the mess we’re facing now.

What are you still doing here? Go and fill up

Read More: Why the government won’t save us from fuel levies – it can’t afford to