Petrol And Diesel Prices Looking Set To Increase In January As Under-recovery Comes Into Play

Fuel price hikes across the board appear to be on the cards for January, but the adjustments are likely to be minor.

This is the picture painted by the latest daily snapshot released by the Central Energy Fund CEF, which shows that an under-recovery has developed on all grades except 500ppm diesel.

As it stands, petrol prices look set to rise by between five cents 95 Unleaded and 12 cents 93 Unleaded, while the same month average shows an under-recovery of two cents for 50ppm diesel and an over-recovery of one cent for 500ppm.

However, the latest daily numbers imply that the aforementioned numbers are likely to grow into larger increases between now and month-end, possibly in the region of 20 cents.

Following five consecutive decreases, in the second half of 2024, petrol increased by 25 cents in November and 17 cents in December , while diesel saw respective price hikes of 20 cents and 56 cents.