South Africa’s petrole prices are set to rise to a record on Wednesday, adding to inflationary pressures in an economy that imports almost all of its fuel. The retail cost of 95-octane gasoline will climb by almost 7% to a R19.54 a liter, the Central Energy Fund said in a statement on its website. Higher average oil prices, a weaker rand and higher levies on petrol and diesel are behind the latest increase, the fourth in the past five months.
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