Petrol set to increase this festive season
In a statement, the department says diesel prices decreased due to a seasonal decline in demand and ample refinery supplies.
The Department of Mineral Resources and Energy has announced a petrol price hike of 22c per litre, while the price of diesel is set to decrease by 14.95c per litre for the festive season.
The hikes are set to take effect on Wednesday.
The main reason for the petrol price increases is that the average Brent crude oil price increased from 59.72USD to 62.68USD per barrel during the period under review.
ALSO READ: Petrol predicted to go up in December, diesel down
In a statement, the department says diesel prices decreased due to a seasonal decline in demand and ample refinery supplies.
"Furthermore, the weak domestic diesel demand in India pushed larger-than-usual diesel flows into the global market.
“The Rand appreciated, on average, against the US Dollar during the period under review when compared to the previous one. This led to lower contributions to the basic fuel prices of petrol, diesel and illuminating paraffin."
Illuminating Paraffin is set to decrease by 17.95c per litre.