eSwatini raised the price of fuel products by up to nine percent a litre with effect from Thursday in response to rising global prices and a weakening exchange rate, the Ministry of Natural Resources and Energy has announced.
Ministry principal secretary Dorcas Dlamini said prices of petrol, diesel and illuminating paraffinhave been increased by 70 cents a litre with effect from midnight on Thursday.
The hike would see the price of unleaded petrol rising from E12.45 (about US0.83) a litre to E13.15 per litre and that of diesel going up from E12.90 a litre to E13.60.
A litre of paraffin now costs E8.65, up from E7.95.
“The price increase has been necessitated by the upward movement of international oil prices that have been triggered by the stimulation of global economic activity due to the rolling out of COVI-19 vaccines which has consequently increased the demand for crude oil,” Dlamini said.
She said Brent crude oil prices averaged US$53.68 a barrel in January compared to US$50.46 a barrel the previous month, while the daily average Lilangeni/US dollar exchange rate weakened to E15.11 last month from E15.05 in December 2020.
JN/APA