Petrol prices up by 72 cents

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Fuel prices in Gauteng are set to go up by 72 cents a litre for 95 octane petrol, 69 cents for 93 octane petrol, and 65 cents for both grades of diesel.

The minister of energy, Jeff Radebe, on Wednesday announced the adjustment of fuel prices for April 2018 based on current local and international factors with effect from 4 April 2018.

Radebe said that the main reasons for the fuel price adjustments are due to the increase in the fuel and road accident fund levies of 22 cents per liter and 30 cents per litre, respectively, as announced by the minister of finance in his budget speech last month.

South Africa’s fuel prices are adjusted on a monthly basis, informed by international and local factors. International factors include the fact that South Africa imports both crude oil and finished products at a price set at the international level, including importation costs such as shipping costs.