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Fuel hikes to burn a hole in consumers pockets
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April 30, 2008, 19:00
The Department of Minerals and Energy says all grades of petrol will rise by 55 cents on
May 7. Fuel will now cost R9.46 a litre inland. The wholesale price of diesel will rise by 71 cents to R10.09 a litre.
Rising fuel and food prices have been the main drivers of higher CPIX consumer inflation.
It soared to 10.1% year-on-year in March, racing away from the central bank's 3 to 6% target. Fuel costs make up about five percent of the main CPIX index.
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