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South Africans now pay R1 more for a litre of petrol (average R17 a litre and R16.64 at the coast).

Diesel prices went up 63-65c a litre.

Kfm Mornings turn to Money Show Host Bruce Whitfield to unpack why the petrol price has increased by record levels.

The rand has been wobbly, the oil price has been high and therefore the petrol guys have to catch up

Bruce Whitfield

So we've seen this huge surge, R3 a litre more today for petrol than it cost you on the first of January - it's the biggest increase we've ever seen in three months

Bruce Whitfield

More than a third of every litre of petrol you put in your car is taxed

Bruce Whitfield

We started the year at R14.69, we're at R17.32 this morning

Bruce Whitfield

This is likely to be a short-term spike

Bruce Whitfield

Listen to the full explanation in the audio clip below.

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