THE Department of Mineral Resources and Energy (DMRE) has announced a record price increase of at least R2.30 for all fuel variants from Wednesday.
The increase will see both grades of petrol going up by R2.37 and R2.57 per litre.
Diesel will increase by R2.30 and R2.31 per litre for both grades of diesel.
The department said there were several factors leading to the price adjustments, including the rand-US dollar exchange rate as well as the increase in the price of Brent crude oil.
Another major factor in the increase of international petroleum prices remains the ongoing conflict in the Ukraine which is contributing to supply and demand pressures
“The average Brent Crude oil price slightly increased from 115.00 US Dollars (USD) to 115.77 USD during the period under review. The average international product prices of petrol, diesel and Illuminating Paraffin increased during the period under review while the price
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