Dire forecasts as fuel prices rise

Motorists in Gaborone will now pay between P7.20 and P7.30 per litre of petrol across its various grades and P7.25 for diesel, among the highest levels of fuel prices since the onset of the recession in October 2008.

Petrol rose by 50thebe, diesel by 40thebe and illuminating paraffin by 40thebe, as brent prices rose by an average 10.4 percent between February and March. Crude prices hit a two-and-a-half year high of US$116 per barrel early last month, further eroding the National Petroleum Fund (NPF)'s ability to subsidise local fuel prices.