Tuesday, 03 December 2019 19:37

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.

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.