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
