South Africa Boosts Prices at Fuel Pump After Saudi Attack
South Africa Boosts Prices at Fuel Pump After Saudi Attack
(Bloomberg) -- South Africa raised prices on gasoline and diesel prices for October, blaming the attack on Saudi Arabia’s crude oil infrastructure for the increase.
“Had it not been for the stronger rand during this period, the impact of the attacks on Saudi facilities on prices would have been more severe,” Gwede Mantashe, the minister responsible for mining and energy, said in an emailed statement.
The price for a liter of 95-octane gasoline will increase by 18 cents, while diesel will rise by 25 cents a liter. Paraffin will rise 25 cents a liter as well. The new prices come into effect from Oct. 2.
To contact the reporter on this story: Colleen Goko in Johannesburg at cgoko2@bloomberg.net
To contact the editors responsible for this story: Dana El Baltaji at delbaltaji@bloomberg.net, Keith Campbell, James Amott
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