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Fuel price set to increase further

On 6 April, South Africa's petrol (95 ULP inland) and diesel (0.05% wholesale inland) prices will likely increase by R1,93 and R2,96 cents per litre, respectively. These increases will put the retail price of petrol at a record R23,53 per litre from the current level of R21,60 per litre. Simultaneously, the wholesale diesel price will be R22,44 per litre from R19,48 in March 2022. The underpinning driver of the fuel price increase is the rising Brent crude oil price on the back of the current geopolitics, disruption in oil production in the Middle East and supply constraints that existed before the intensification of the Russia-Ukraine war, amongst other factors.

Published: 28 March 2022