Lower fuel price brings welcome relief

2015-09-02 06:00

THE prices of petrol, diesel, paraffin and liquefied petroleum gas (gas) have all decreased with effect from Wednesday (02/09), the department of energy announced.

South Africa’s fuel prices are adjusted on a monthly basis.

The decrease is due mainly to the continued drop in the crude oil prices during the period under review. The price of Brent crude dropped to about $46.93 per barrel (on average) due mainly to global supply glut (oversupply).

Furthermore, the international prices for all petroleum products decreased on average during the period under review, following the drop in crude oil prices.

The weakening Rand reduced the over recovery on the Basic Fuel Price by more than 20cpl. The Rand fell to above $13.00 during the current fuel price review period, as a result of lower prices for resources that account for more than half of exports.

Based on current local and international factors, the fuel prices for August 2015 in South Africa will be adjusted as follows: 1. Petrol (Both 93 and 95) will decrease by 69 cents/litre 2. Diesel (0.05% Sulphur) will decrease by 54 cents/litre.3. Diesel (0.005% Sulphur) will decrease by 51 cents/litre 4. Illuminating paraffin (SMNRP) will decrease by 55 cents/litre.5. Illuminating paraffin (wholesale) will decrease by 74 cents/litre. 6. Liquefied Petroleum Gas (LPG) will decrease by 115 cents/kilogram.

The minister of energy, Tina Joematt-Pettersson, has approved an increase in the retail margin of petrol of 4.6cpl to cater for the salary increase of 9% for pump attendants and cashiers in line with the Motor Industry Bargaining Council (MIBCO) agreement of 2013

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