On Wednesday, the price of both grades of petrol will be hiked by 53c a litre in South Africa, while diesel prices will increase by between 79c and 80c. This, News24 reports, after petrol prices were lowered by between 68c and 71c a litre in January. Namibians are meanwhile reminded that the price of petrol locally will increase by 30c/litre and that of diesel by 40c/litre overnight. This, the Ministry of Mines and Energy said, was necessitated in part by the Organisation of Petroleum Exporting Countries having continued to keep oil supply at a low level, and oil producers finding it increasingly difficult to attract investments for their projects as more and more funds are being invested in renewable energy projects instead.
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