petrol price february R20 per litre

Image via ANA

Confirmed: Petrol price to SOAR on Wednesday – here’s what you’ll be paying…

It’s absurd that some motorists will have to pay R20 per litre for fuel next month due to the latest petrol price increase – but here we are.

petrol price february R20 per litre

Image via ANA

We’ve been pumped. As predicted in the past few days, the petrol price for February 2022 will go through the roof, thanks to a substantial increase that comes into effect on Wednesday. For some motorists, the hike means they will be paying more than R20 per litre the next time they go and fill-up.

Petrol price increase for February 2022

The writing has been on the wall for most of this month. January started positively, after the petrol price fell by 68 cents per litre. Sadly, those gains have now been mostly wiped out with the latest spike in value.

BOTH grades of petrol will be 53 cents more expensive from midnight on 2 February. Diesel consumers have ended up with an ever worse deal, and their price-per-litre is increasing by 80 cents. Illuminating paraffin, by the way, will go up by R1.01, marking the steepest rise of the lot.

What is the official petrol price for South Africa?

Indeed, this latest petrol price hike will be felt keenly across the country. But anyone who lives ‘inland’ and not in a coastal province will see their fuel costs shoot past the dreaded R20-per-litre mark, as it did two months ago.

Inland regions will be stuck with an average of R20.14p/l. Coastal residents get a slight bit of respite, with a litre of petrol setting them back R19.42 in February. Nevertheless, these prices remain offensively high.

R20 per litre: Why is this happening?

Inland diesel customers will now pay an eye-watering R18.05 per litre when they visit the pumps, with that figure dropping to R17.48 for those close to the sea. The disparity, however, isn’t anything to celebrate.

A recent dip in value for the Rand and a surge in global oil prices ended up putting South Africa to the sword this month. Although this isn’t quite the monster hike some were expecting, it’s still a body blow for millions of motorists in Mzansi – who will be forking out more for their fuel over the next four weeks.