Huge increase in fuel prices for March

An increase of 81c/l in the price of petrol from next Wednesday was announced by the Department of Energy.

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The wholesale price of diesel will increase by 57c/l. Finance Minister Pravin Gordhan announced in his 2013 Budget that the Road Accident Fund levy will increase by 8c and the fuel levy by 15c for a litre of petrol. This will come into effect on 1 April. "Oil is extraordinarily high," Gordhan said at a recent media briefing.

 "And for various reasons the rand has been settling at R8,50 to R9 for the past few years." He said the weakness of the rand made imports into South Africa more expensive.  "During the period under review, the average international product prices of petrol, diesel and illuminating paraffin increased (and) the average rand/dollar exchange rate weakened when compared to the previous period," the Department of Energy said.