Fuel up by 20thebe

Wednesday, November 01, 2017

Pump prices of fuel went up at midnight PIC: MORERI SEJAKGOMO

The rise in international crude oil prices and refined product prices have compelled government to increase retail pump prices for petrol, diesel and illuminating paraffin effective today.

Economic analyst, Moemedi Mosele said the increase in retail pump prices has been expected due to the steady rise of global oil prices throughout the year.

“Since OPEC {the Organisation of Petroleum Exporting Countries} announced that it would trim production by 1.2 million barrels a day to 32.5 million, it was clear that global oil prices would rise, as they have been hovering above $50 per barrel throughout the year,” he said.

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