Petrol price decrease announced for September
The Department for Energy on Friday announced the fuel price adjustments for September 2016, which will see petrol go down by 18 cents per litre while diesel will go down by 48 and 49 centre per litre.
According to the department the strengthening of the Rand against the US Dollar during the period under review cushioned the fuel prices by about 22 cents a litre.
The department says international markets also influenced the adjustments.
"The Basic Fuel Price (BFP) of diesel decreased by about 6 cents while that of petrol increased by about 25 cents during the same period. This could explain why the diesel over recovery is higher than the petrol over recovery. The overall effect on the fuel prices locally has been outweighed by the strengthening of the Rand to the US Dollar," it said.
An increase in the prices of crude oil also played a role.
"A key factor that contributed to the increase in the prices of crude oil was the news that the Organization of the Petroleum Exporting Countries (OPEC) and other key exporters are likely to revive talks on freezing output levels when meeting in Algeria in September 2016."
Other price adjustments include:
- Wholesale price for Illuminating Paraffin: 47.00c/l decrease
- SMNRP for Illuminating Paraffin: 63.00c/l decrease
- Maximum Retail Price for LPGas: 9.00c/kg decrease
The adjustments will come into effect on 7 September 2016.