The Department of Mineral Resources and Energy announced that the price of petrol and diesel would increase on Wednesday.
The Department of Mineral Resources and Energy announced on Monday that the price of petrol and diesel would increase on Wednesday.Chief economist at the Bureau for Economic Research at Stellenbosch University, Hugo Pienaar, said the increase was based on current local and international factors.
"The significant increase in domestic fuel prices is to a large extent because of much higher diesel and gasoline prices. In conjunction with that, we've also seen the rand-dollar exchange rate weaken over the past month." Pienaar said whether or not South Africans experienced some relief in the coming months depended on the stability of the oil price and the rand-dollar exchange rate.
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