Govt revises fuel prices for November, petrol increased by Rs2.49 per litre

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Nov 1, 2017-Nepal Oil Corporation (NOC) has jacked up the prices of petroleum products on Wednesday.

The department attributed the moderate rise in the petrol price to the rand weakening against the U.S. dollar on average during the period under review - from R13.13 to R13.62 - and a slight increase in the average Brent Crude oil price.

Prices for high-speed diesel (HSD) was increased by Rs5.19 per litre, while the price for light-speed diesel (LSD) was increased by Rs3 per litre.

NOC fixes price of the petroleum products based on price list sent in by the Indian Oil Corporation on 1st and 16th of every month.

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The future outlook is even bleaker however, with the rand having plunged well below October's R13.62 average since Finance Minister Malusi Gigaba's medium-term budget speech, which painted a bleak picture of South Africa's debt outlook.

"South Africa's fuel prices are adjusted on a monthly basis, informed by global and local factors".

"The average prices of petrol and illuminating paraffin decreased, while the diesel prices increased, during the period under review".

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