Petrol Price Increases at Midnight on Tuesday

Advertisement

The Department of Energy announced that the retail price of all grades of petrol would increase by R1.18 cents per litre and diesel would rise by 22 cents at midnight on Tuesday.

While there has been a significant reduction in fuel prices over the past few months, the department says that high oil prices are due to decrease in production and increase in demand in the United States, therefore, causing the price hikes.

However, the Department of Energy says that fuel prices were still cheaper than several weeks ago.

It is unclear how long the low fuel price will last though as oil-producing nations have agreed to reduce production by about 10 million barrels per day, and many nations were easing their lockdowns, which was seeing more vehicles on the road.