Petrol price takes a plunge
JOBURG – The Department of Energy announced that fuel prices would drop at midnight on 4 February.
Based on current local and international factors, the fuel prices for February 2015 in the South African market will be adjusted as follows: Petrol will decrease by 93 cents per litre, diesel will decrease by R1.02 per litre, illuminating paraffin (SMNRP) will decrease by R1.36 per litre. Meanwhile Liquefied Petroleum Gas (LPG) will decrease by R1.50 per kilogram.
Minister of Energy, Tina Joematt-Pettersson said, “The main reason for the fuel price decreases is the continued drop in the price of crude oil which led to a decrease in the prices of petroleum products (petrol, diesel, illuminating paraffin and LPG in the international markets.”
The department stated that the depreciation of the rand against the US Dollar led to an increase in the contribution to the Basic Fuel Price by about 4 cents a litre. The department said it was off-set by the drop in the crude oil price during the period under review. Furthermore, the slate levy on petrol and diesel remain unchanged at zero cents per litre, due to positive cumulative over-recoveries on these products.
Joematt-Pettersson urged motorists and the consumers of other petroleum products to continue to use fuel saving tips.
Joematt-Pettersson said, “Motorists must continue to use fuel saving tips and the consumers of other petroleum products, in particular paraffin and Liquid Petroleum Gas (LPG), to be energy efficient so that they can benefit more from the low prices.”
