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You are at:Home»Uncategorized»Fuel price drop a relief – minister
Uncategorized

Fuel price drop a relief – minister

Grocott's MailBy Grocott's MailJanuary 6, 2015No Comments2 Mins Read
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Energy Minister Tina Joematt-Pettersson has welcomed the significant drop in fuel prices, saying they will be a big relief to motorists and users of Liquefied Petroleum Gas (LPG) and paraffin, especially in low-income households.

Energy Minister Tina Joematt-Pettersson has welcomed the significant drop in fuel prices, saying they will be a big relief to motorists and users of Liquefied Petroleum Gas (LPG) and paraffin, especially in low-income households.

The Department of Energy on Friday announced that the prices of petrol, diesel, Illuminating paraffin and LPG will decrease with effect from 7 January 2015.

Petrol will decrease by 127 cents a litre, diesel will decrease by 105 cents a litre, illuminating paraffin (SMNRP) will decrease by 144 cents a litre and LPG will decrease by 210 cents a kilogram.

According to the department, the main reason for the fuel price decreases is the continued fall of the price of crude oil.

This in turn led to a decrease in the prices of petroleum products – petrol, diesel, illuminating paraffin and LPG – in the international markets.

The depreciation of the Rand against the US Dollar led to an increase in the contribution to the Basic Fuel Price by 17.92-19.75 cents a litre.

This was offset by the drop in the crude oil price during the period under review.

The slate levy on petrol and diesel remain unchanged at zero cents a litre, due to positive cumulative over-recoveries on these products, said the department. – Source: SAnews.gov.za

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