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May fuel price hike confirmed

New fuel prices will take effect on Wednesday

MOTORISTS will indeed need to divert more of their hard-earned cash to the price of fuel, but the increase is not as drastic as envisaged by the AA.

Coming in to effect on Wednesday, petrol, both 95 and 93, will increase by 49c/litre, diesel (0.05% sulphur and 0.005% sulphur) will increase by 58c and 59c/litre respectively, and illuminating paraffin will increase by 69c/litre.

Fuel prices are adjusted according to national and international factors including the international price of oil and the South African exchange rate.

During the period under review, the Rand depreciated against the US Dollar after going through a period of volatility.

At the same time, the international price of Brent Crude Oil increased from 65.71USD to 70.36USD.

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