Fuel price cut brings 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. The decrease is due mainly to the continued drop in the crude oil prices. 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, following the drop in crude oil prices.

The weakening rand reduced the over- recovery on the basic fuel price by more than 20c per litre. The rand fell to above $13,00 in the current fuel price review period, as a result of lower prices for resources that account for more than half of exports.

The fuel prices for August in South Africa will be adjusted as follows:

1. Petrol (both 93 and 95) will decrease by 69c per litre.

2. Diesel (0,05% sulphur) will decrease by 54c per litre.

3. Diesel (0,005% sulphur) will decrease by 51c per litre.

4. Illuminating paraffin (SMNRP) will decrease by 55c per litre.

5. Illuminating paraffin (wholesale) will decrease by 74c per litre.

6. Liquefied petroleum gas (LPG) will decrease by 115c per kilogram

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