Price of petrol in SA set to drop by 12c while diesel and paraffin spike

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There is some slight relief at the pumps for motorists as the price of petrol will decrease by 12c  a litre from midnight.

However, diesel will see an increase of 98c and 92c  a litre, while Illuminating paraffin will also see an increase 79.6c a litre.

The department of Mineral Resources and Energy says the decrease in petrol was due to the rand appreciating during the period under review.

COVID-19 restrictions in China, which is a huge importer of crude oil, have also led to reduced demand for crude oil.

Furthermore, the United States announced the release of crude oil strategic stocks to curb crude oil price increases.