Blow to consumers as fuel price hits historic high

September’s gentle fuel increase is a distant memory as motorists are set to be hit with a more than R1 increase from midnight on Tuesday.

The department of energy has attributed the increase to the weakening rand exchange rate, the increased prices of crude oil and the import prices of petroleum.

Although both crude oil prices and the price of petroleum products increased during the year, the weakened rand contributed to a 50c/l more to the basic fuel price for petrol and 52c/l for diesel and illuminating paraffin. 

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Source: 
Mail & Guardian

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