Photo by: Bloomberg
The pump prices of both grades of petrol and wholesale diesel, as well as the maximum retail prices of illuminating paraffin and liquefied petroleum gas (LPG), are set to decrease from September 3, the Department of Energy said on Friday.
Petrol would drop by 67c/l, diesel by 25.38c/l, illuminating paraffin by 25c/l and LPG by 108c/kg.
The decreases were largely owing to a drop in the price of crude oil, which led to a decrease in the prices of petroleum products in the international markets, as well as the stability of the rand against the dollar.
The department also announced a decrease in the slate levy from 4.38 c/l to zero, in line with the self-adjusting slate mechanism.
The Minister of Energy had, meanwhile, also approved a retail margin increase of 4.2c/l with, which would take effect from September 3, to accommodate the salary increase of 9% for fuel pump attendants and cashiers.
The pricing schedule for all the pricing zones would be published on September 2.