Another fuel price hike in February
South Africans will have to rearrange their budgets once again after the Department of Mineral Resources and Energy has announced another increase in the fuel price.
Petrol will increase by 53c per litre, while diesel is set to increase by 80c per litre on Wednesday.
The department said the latest increase is due to an increase in crude oil price and the slow economic recovery.
“Concerns regarding the tension between Russia and Ukraine have also affected crude oil prices negatively as the area is a crucial oil and gas infrastructure hub,” it said in a statement on Monday.
“The movement in international refined petroleum product prices followed the increasing trend in crude oil prices. While petrol stocks increased, middle-distillate stock decreased due to unplanned outages resulting in lower levels of diesel and jet fuel stocks hence higher prices of petroleum products.”
The oil price was also a contributing factor.
"The movement in international refined petroleum product prices followed the increasing trend in crude oil prices. While petrol stocks increased, middle-distillate stock decreased due to unplanned outages resulting in lower levels of diesel and jet fuel stocks hence higher prices of petroleum products.”
