Minister of Mineral Resources and Energy Gwede Mantashe said in a statement the main reason for the petrol price increases is that the average Brent crude oil price increased from $59. 68 a barrel during the period under review.
The Crude oil prices increased following signals of the extension of Organisation of the Petroleum Exporting Countries (OPEC) production cut into mid-2020, and signs of a new round of trade talks between China and the US. The diesel prices decreased due to seasonal decline in demand and ample refinery supplies.
In addition, the weak domestic diesel demand in India pushed larger-than-usual diesel flows into the global market.