By Bekithemba Ndebele
Motorist are relieved with the announcement by The Department of Energy on Friday for the decrease in fuel prices for August 2016.
“South Africa’s fuel prices are adjusted on a monthly basis, informed by
international and local factors. International factors include the fact that South Africa imports both crude oil and finished products at a price set at the international level, including shipping costs,” as noted by the entity.
The prices adjustments are due to the strengthening of the Rand against the US Dollar during the period under review, and also the decrease on average in the prices of petroleum products in the international markets, mainly due to oversupply of refined petroleum products in the global markets.
Another factor that played a role in the fuel price decrease for August is mainly due to oversupply in the market.
The fuel prices for August 2016 will be adjusted as follows:
1. Petrol (93 ULP and LRP): 99.00c/l decrease;
2. Petrol (95 ULP and LRP): 99.00c/l decrease;
3. Diesel (0.05% Sulphur): 74.00c/l decrease;
4. Diesel (0.005% Sulphur): 73.00c/l decrease;
5. Wholesale price for Illuminating Paraffin: 66.00c/l decrease;
6. SMNRP for Illuminating Paraffin: 88.00c/l decrease; and
7. Maximum Retail Price for LPGas: 160.00c/kg decrease.
Meanwhile, the petrol strike continues to affecting motorists in Pretoria, Cape Town, Johannesburg, and the KwaZulu-Natal south coast which started on Thursday.
Wage talks are underway to avert the grevancies of workers within the sector.