Fuel prices to increase in May

The retail price of petrol in South Africa will rise by 3.4 per cent from May 2, while the price of wholesale diesel will rise by 4.6 per cent, according to the energy department.

The department said in Johannesburg that the price of petrol would rise by 49 cents to 14.97 rand per litre in the commercial hub of Gauteng province, while diesel would go up by as much 59 cents to 13.34 rand.

The Central Energy Fund said in a statement that the depreciation of the rand against the dollar in past months, as well as a higher oil price globally had contributed to the rise in local fuel prices.