South Africa Continues to Raise Fuel Prices
As South Africa imports crude oil and finished products at a price set at the international level, including importation and shipping costs, the country's petrol, diesel, and illuminating paraffin will see different price increases, the department said in a statement.
This is the fourth consecutive month for the country's fuel prices to increase.
The average international prices of petrol, diesel, illuminating paraffin, and LPG increased during the period under review due to factors including refinery shutdowns in the United States, according to the statement, which noted that the South African currency rand depreciated against the US dollar, which led to higher contributions to the basic fuel prices of petrol, diesel, and illuminating paraffin.
The department said it believes that the exploration and development of national oil and gas reserves could help moderate the impact of high prices in the long term.
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