The Department of Minerals and Energy announced a dramatic hike in fuel prices on Friday, with petrol set go up by 30c per litre next week.
The department said in a statement diesel would go up by 16c a litre, while paraffin would cost 18c more per litre from Wednesday. The department said the rand’s recent gains against the dollar, were offset by the high oil prices.
Uneasiness about the possible United States-led war on Iraq has seen oil prices soar in recent months on the back of fears that supply will be disrupted in the event of an outbreak of hostilities. – Sapa