February may bring a large hike in the petrol price, the latest information from the Central Energy Fund shows. With two weeks to go before the prices are fixed, the fund’s data shows that 95 unleaded petrol could be increased by more than R1.20 a litre in February, while diesel may be hiked by 38c. The fuel prices are usually adjusted on the first Wednesday of a month and primarily determined by the price of oil and the rand-dollar exchange rate. While Brent crude oil is roughly the same level as a month ago – currently around $85 a barrel – oil prices have been volatile over the past month. Prices received support from expectations that the end of Chinese lockdowns will boost demand and Russia’s announcement that it will cut output, but uncertainty about a global recession weighed on sentiment.