Kaya 959 Reporter
Fuel prices will hit massive record highs at the beginning of next month, with the petrol price expected for the first time ever to cost more than R21 a litre.
The Department of Mineral Resources and Energy (DMRE) on Saturday announced the price changes.
Fuel prices will go up at midnight on Tuesday.
Both grades of petrol will increase by R1.46/ per litre, diesel will increase between R1.44/l and R1.48/l and illuminating paraffin will increase by R1.21/l.
95 octane petrol inland will rise above R21 a litre.
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According to the Department of Mineral Resources and the Department of Energy South African’s fuel prices are adjusted on a monthly basis, informed by international and local factors.
International factors include the fact that SA imports both crude oil and finished products at a price set at the international level, including importation costs, e.g. shipping costs.
They also say the reason for the price increase is due to international fuel prices with the crude oil price increasing from $86 to $92 from January 28 to February 24, the period under review.
International factors include the fact that SA imports both crude oil and finished products at a price set at the international level, including importation costs, e.g. shipping costs.
As part of his budget speech, Finance Minister Enoch Godongwana recently announced that the General Fuel and Road Accident Fund levies would not increase this year.
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