The Department of Energy on 29 August announced that the prices of petrol, diesel, Illuminating paraffin and Liquefied Petroleum Gas (LPG) would decrease with effect from today (03 September 2014). South Africa’s fuel prices are adjusted on a monthly basis, informed by international and local factors. he pump price of both grades of petrol and the wholesale prices of diesel, illuminating paraffin and the maximum retail prices of both Illuminating paraffin and Liquefied Petroleum Gas (LPG) will decrease with effect from the 03 September 2014. The reasons for the fuel price decreases are mainly due to (a) the drop in the price of crude oil which led to a decrease in the prices of petroleum products (petrol, diesel, Illuminating Paraffin and Liquefied Petroleum Gas) in the international markets; and (b) the stability of the rand against the US dollar (on average) when compared to the previous period. Furthermore, the Department has decreased the slate levy from 4.38 c/l to zero, in line with the self-adjusting slate mechanism.
Based on current local and international factors, the fuel prices for September 2014 in the South African market will be adjusted as follows: (i) Petrol (both grades) will decrease by 67.0 cents/litre; (ii) Diesel will decrease by 25.38 cents/ litre; (iii) Illuminating paraffin (SMNRP) will decrease by 25.0 cents/litre; and (iv) Liquefied Petroleum Gas (LPG) will decrease by 108.0 cents/kilogram
The Minister of Energy has approved a retail margin increase of 4.2 cents per litre with effect from 03 September 2014 in order to accommodate the salary increase of 9.0% for fuel pump attendants and cashiers.
