Fuel hike for February announced

JOHANNESBURG - South African motorists should brace themselves for a tough February.

Fuel prices - for both petrol and diesel - will increase at midnight by at least 70 cents per litre.

A litre of petrol - both grades - will cost you 75 cents more this month while diesel will increase by between 70 and 73 cents.

Meanwhile, the retail price of illuminating paraffin will increase by 71 cents per liter, and gas will increase by 37 cents per kilogramme.

Reasons given for the hike is an increase in international Brent crude oil and petroleum product prices, geopolitical risks of attacks on oil cargoes and cold weather affecting production in the United States.

The rand-dollar exchange rate was not that much to blame this time round, as the rand only depreciated slightly on average against the US dollar.

It did, however, contribute between six and eight cents to the increases.