Durban - Fuel prices increase because of the rand-dollar exchange rate, crude oil prices and import prices of Petroleum Products.
Jeff Radebe, the South African minister of Energy, said the adjustment of fuel prices will take effect from Wednesday.
He said SA fuel prices are adjusted on a monthly basis, informed by international and local factors. International factors include the fact that South Africa imports both crude oil and finished products at a price set at the international level, including importation costs, e.g. shipping costs.
Radebe said the main reasons for the fuel price adjustments are due to:
(1) The contribution of the Rand/US Dollar exchange rate