The Department of Energy has announced that the price of petrol is set to decrease by 15 cents per litre in Gauteng, on May 7, 2014.<\/p>\n
Diesel will decrease by 29.78 cents per litre, the department said.<\/p>\n
South Africa\u2019s fuel prices are adjusted on a monthly basis, informed by international and local factors.<\/p>\n
“The decrease in the prices of all the petroleum products is due to changes in international factors, namely, crude oil prices, the Rand\/ Dollar exchange rate and the prices of finished products,” the department said.<\/p>\n
“The Rand appreciated against the US Dollar from R10.76 to R10.55 during the period under review,” it said.<\/p>\n
Locally, the price changes have been influenced by the reduction of the slate levy by 8. 78 cents per litre, in line with the self-adjusting slate mechanism. A slate levy is the money that is collected from motorists to compensate the industry for cumulative under recovery.<\/p>\n
The department said that Illuminating paraffin will decrease by 25.0 cents per litre, while Liquefied Petroleum Gas (LPG) will decrease by 4.0 cents per kilogram.<\/p>\n
\u201cThe decrease in the price of illuminating paraffin and LPG will benefit households that use these products, as winter approaches,” said Minister Dikobe Ben Martins.<\/p>\n
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