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The price of all grades of petrol will drop next week, the Department of Energy said Friday.
The 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 4th February 2015.
"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 Liquefied Petroleum Gas) in the international markets. However, the depreciation of the Rand against the US Dollar led to an increase in the contribution to the Basic Fuel Price (BFP) by about 4 c/l," the Energy Department said in a statement.
"This was off-set by the drop in the crude oil price during the period under review."
The Department says "the slate levy on petrol and diesel remain unchanged at zero cents per litre, due to positive cumulative over-recoveries on these products."
Based on current local and international factors, the fuel prices for January 2015 in the South African market will be adjusted as follows:
1.Petrol will decrease by 93.00 cents/litre.
2.Diesel will decrease by 102.00 cents/ litre
3.Illuminating paraffin (SMNRP) will decrease by 136.00 cents/litre
4.Liquefied Petroleum Gas (LPG) will decrease by 150.0 cents/kilogram
