Skip to main content

SA petrol price set for big drop in February

| Economic factors

Local economists’ projections over the exact amount vary, while the latest update from the Central Energy Fund puts the price of 93 and 95 octane petrol at between 97 cents and 99 cents a litre.

The price of 93 and 95 octane petrol decreased by R1.27 and R1.23 a litre in January, to R11.02 a litre and R11.24 a litre respectively.

The petrol price in Gauteng hit at a record worst level of R14.39 a litre in April 2014.

Economists Dawie Roodt told Jacaranda FM that the country is currently paying too much for a litre of petrol with recovery between 90 cents and R1 per litre, while Mike Schussler also pointed to a cut of approximately R1 in February.

Over recovery as at 22 January 2015:

  • Petrol 95 – 97c

  • Petrol 93 – 99c

  • Diesel 0.05% – 103c

  • Diesel 0.005% – 103c

  • Illuminating paraffin – 106c

    Oil prices have halved in recent month to below $50 a barrel from more than $100 in mid 2014

     

Pin It

Related Articles

SA retail sales up 2.3% in March

Stats SA reports that retail trade sales increased by 2.3% year-on-year in February 2024. The largest contributor to this increase was general dealers (6.4% and contributing 2.8 percentage points).

Massive tax increases to fund NHI – destroying ...

By: Shaun Jacobs – Daily Investor Funding the government’s National Health Insurance (NHI) scheme would require a 31% increase in personal income tax, or a 6.5% increase in VAT, or a ten times increase in payroll tax, threatening South Afric...

SA consumers’ disposable income eroded by high ...

By: Given Majola - IOL Business South African consumers’ disposable income was being eroded by persistently high interest rates and inflation (especially food inflation) while a lack of any meaningful economic growth was constraining their salaries.

Nearly half of South Africans struggle to affor...

By: Xolile Mtembu - IOL South Africans spend over one-third of their income on food, and growing costs have a significant impact on their finances.

Petrol price earmarked for another hike in May

By: Siphelele Dludla – IOL Business Report THE Automobile Association (AA) has warned of another petrol price hike in May that will push the cost of living even higher for financially-constrained consumers, as inflation also remained sticky above...