South Africa on Wednesday hike the price of a litre of petrol by a cent while the cost of diesel was cut by 21 cents.
The Ministry of Energy announced that a one cent increase was imposed on both petrol grades of 93 (ULP and LRP) and 95 (ULP and LRP), while prices for both grades of diesel (0.05% Sulphur and 0.005% Sulphur) have decreased by 21 cents a litre.
The office said the price of lighting paraffin has been reduced by 26 cents, with the cooking gas price also slashed by 36 cents.
According to the ministry, the average international product prices for petrol, diesel and illuminating paraffin decreased during the past month, necessitating the price changes.
The plunge in oil prices, sparked by the softer demand during the global Covid-19 outbreak, as well as the Saudi Arabia and Russia price war, fuelled the previous price decreases, the ministry added.
NM/jn/APA