File picture: Neil Baynes, Independent Media

Johannesburg – The Department of Energy on Monday announced a fuel price adjustments for this month which would see the price of petrol 95 and 93 Octane increase by 12 cents per liter from Wednesday.

South Africa’s fuel prices are adjusted on a monthly basis, informed by international and local factors.

In a statement, the department said diesel would decrease by 1.00 cent per litre, paraffin would decrease by 9.00 cents per litre and liquefied petroleum gas would also decrease by 5.00 cents per kilogram.

The department said the main reasons for the fuel price adjustments in May were the average increase in the prices of petroleum products in the international markets, and the strengthening of the Rand against the US Dollar during the period under review which cushioned the price adjustments.

The prices of petrol increased more significantly than the prices of diesel due to higher demand for petrol in USA and Europe as they move towards their summer season, the department said.

African News Agency