The Department of Petroleum and Mineral Resources has confirmed the official fuel price adjustments, effective from midnight.

According to Pretoria Rekord, this follows rising global petrol prices and a weaker rand, marking the fourth consecutive month of increases.

Motorists are urged to fill up today, if they are able to, before the new prices take effect. The next adjustment is set for March 5.

A BusinessTech report attributes the hike to higher demand driven by cold weather in the northern hemisphere and an expected rise in oil consumption from China due to economic stimulus measures.

What is the official petrol price for February?

• Petrol 93 & 95 (ULP & LRP): R0.82 per litre increase in retail price
• Diesel 0.05% sulphur: R1.05 per litre increase in wholesale price
• Diesel 0.005% sulphur: R1.01 per litre increase in wholesale price
• Illuminating paraffin: R0.97 per litre increase in wholesale price
• Illuminating paraffin: R1.29 per litre increase in the Single Maximum National Retail Price
• LPGAS: R0.42 per kilogram increase in the maximum retail price

South African Petroleum Retailers Association chairperson Henry van der Merwe said in a statement today that this month’s adjustments are a ‘lose-lose situation’ for both retailers and consumers.

“When the fuel price increases, motorists naturally adapt by driving less and planning trips more carefully, which significantly reduces sales volumes for service stations. Even stations that buy on consignment don’t benefit from these changes. It’s a tough environment where station owners often face shrinking margins.”

Van der Merwe warns that rising fuel prices have a knock-on effect across various industries, increasing the cost of goods and services due to higher transport expenses.

“The long-term solution lies in continued engagement with industry stakeholders and government to find ways of mitigating the impact of these price adjustments on consumers and retailers alike,” he concluded.