While some fuel prices will drop from 6 August, the government has warned that the Israeli-Palestine conflict in Gaza could drive up prices during the following weeks.
While some fuel prices will drop from 6 August, the government has warned that the Israeli-Palestine conflict in Gaza could drive up prices during the following weeks.
The Department of Energy announced today that the pump price of both grades of petrol will not change, but the wholesale prices of diesel, illuminating paraffin and Liquefied Petroleum Gas (LPG) will decrease with effect from 6 August.
In a media statement the department said the fuel price decreases were mainly due to the average decrease in the prices of petroleum products (petrol, diesel, Illuminating Paraffin and Liquefied Petroleum Gas) in the international markets and the strengthening of the Rand against the US Dollar.
"Furthermore, the Department has increased the slate levy by 4.38 a cubic litre in line with the self-adjusting slate mechanism."
Based on current local and international factors, the Department said, the fuel prices for August 2014 in the South African market will be adjusted as follows:
Diesel will decrease by 5.62 cents/ litre; illuminating paraffin (SMNRP) will decrease by 10.0 cents/litre; petrol (both grades) will remain unchanged from last month and Liquefied Petroleum Gas (LPG) will decrease by 12.0 cents a kilogram.
The pricing schedule for all the pricing zones will be published on Tuesday, 5 August.
"The Department of Energy is concerned about the conflicts in Ukraine, Iraq, Libya and the ongoing confrontation between Israel and Palestine, because they could have a negative impact on fuel prices going forward," the statement concluded.
