The price of 95-octane petrol will increase by 18-cents a litre while the price of 93-octane, will drop by 4-cents a litre on Wednesday

The Energy Department says the reason for the different price adjustments is that the Basic Fuel Price differentials between 95 and 93 petrol grades have changed.

Diesel and wholesale Illuminating paraffin will increase by 25-cents a litre.

Oil prices rose sharply after drones attacked two major facilities in Saudi Arabia.

The closure of these operations affected five percent of the world’s daily oil production.