Cape Town – The Mineral Resources and Energy Department has announced an adjustment to the fuel prices, with both grades of petrol set to decrease by 12 cents a litre.
The adjustment is with effect from May 4.
The department said this was due to local and international factors, including Covid-19, eNCA reported.
Diesel will, however, be hiked by 98c (0.05% sulphur) and 92c (0.005% sulphur).
ALSO READ | Finance Minister Godongwana concerned over fuel price hikes, calls for reforms
Paraffin prices will increase by 79.60c/l, while gas will increase by a maximum of 69 cents a kilogram.
Local fuel prices are determined by international oil prices, as well as the dollar-rand value, as South Africa buys oil in dollars. Petrol and diesel prices have surged by more than a third over the past year, Fin24 reported.
The Energy Department’s Robert Maake said the sanctions against Russia following that country’s latest conflict with the Ukraine had contributed to the increased price of diesel and paraffin, said EWN.
Follow African Insider on Facebook, Twitter and Instagram
Picture: Pexels
For more African news, visit Africaninsider.com
Compiled by Betha Madhomu
