South Africa Gasoline Price Jumps to Highest in Four Years

South African gasoline prices will rise to a near four-year high and wholesale diesel cost will top 30 rand ($1.79) a liter for the first time, as government interventions failed to fully offset the impact of higher oil prices and a weaker currency tied to the Iran war.

The retail price of 95-octane gasoline is set to climb 14% to 26.63 rand per liter in the country’s economic hub, Gauteng, the Department of Mineral Resources and Energy said in a statement on Monday. That will be the highest level since July 2022.