The retail price of gasoline in South Africa will fall by 5.5% from March 2, while wholesale diesel will rise by 1.6%, the energy department said on Saturday.

The price of gasoline would fall by 69 cents to 11.74 rand per litre in the commercial hub of Gauteng province, while diesel cost would rise by 15 cents to 9.58 rand per litre, the department said in a statement.

The government adjusts the price of fuel every month, factoring in global oil prices and the rand exchange rate.