29 August 2014

South Africa: Relief At the Pumps for Motorists

The prices of petrol, diesel, illuminating paraffin and Liquefied Petroleum Gas will decrease next Wednesday, providing much-needed relief for motorists.

According to the Department of Energy, both grades of petrol will decrease by 67 cents/litre, diesel will decrease by 25.38 cents/litre, the Single Maximum National Retail Price (SMNRP) for illuminating paraffin will decrease by 25 cents/litre and liquefied petroleum gas (LPG) will decrease by R1.08/kilogram.

South Africa's fuel prices are adjusted on a monthly basis, informed by international and local factors.

The department said the fuel price decreases were mainly due to the drop in the price of crude oil which led to a decrease in the prices of petroleum products in the international markets and the stability of the Rand against the US Dollar when compared to the previous period.

The department has also decreased the slate levy from 4.38 cents/litre to zero, in line with the self-adjusting slate mechanism.

The pricing schedule for all the pricing zones will be published on Tuesday.

The Minister of Energy, Tina Joemat-Pettersson, has approved a retail margin increase of 4.2 cents per litre with effect from 3 September 2014, in order to accommodate the salary increase of 9.0% for fuel pump attendants and cashiers.

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