Petrol price increases by 54 cents on May 01

Motorists will fork out more for petrol as fuel prices are set to increase next month.

As of May first, the price of petrol will increase by 54 cents a litre. A litre of diesel will increase by one cent, while a litre of illuminating paraffin will increase by three cents.

The Department of Energy says various international factors including the increase in oil prices are contributing to the latest spike.

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