Why are Southern Africa's fuel prices at an all-time high?

South Africa, like many of its African peers, posted its highest ever pump prices in March 2014, whereas prices in the United Kingdom, among other European countries, are at record low levels. A detailed investigation of the relentless increases in South Africa's regulated gasoline price over the past three years reveals that almost three quarters of the final pump price increase since April 2011 can be attributed purely to persistent weakening in the value of the rand versus the US dollar.