Forex and oil costs push fuel prices up


Since midnight on Monday, petrol is selling at R24 per litre up from R20.50 while the price of diesel went up from R21.50 to R24.25.

Seychelles Petroleum Company’s chief executive Conrad Benoiton told Nation the increases reflect changes that have taken place in the cost of foreign exchange and “the commodity itself since the July 2011 review of petrol and December 5 change in diesel prices”.

“The US dollar in which we buy the commodity keeps costing more rupees and the world prices of oil have gone up as anybody can verify,” he said.

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