Fuel price changes to be effected on 5 February 2014
The retail prices of all grades of petrol, the wholesale prices of both grades of diesel, illuminating paraffin and the maximum retail prices of LPGas will increase with effect from Wednesday, 5 February 2014.
1. Crude oil prices:
The Brent crude oil prices decreased on average by about U$3.0/bbl from U$110.0/bbl to U$107.0/bbl, since the start of the current fuel price review period 27 December 2013 to 30 January 2014. The lower oil prices could be attributed mainly to China’s low crude oil demand during January 2014.
2. International petroleum product prices
The international petroleum product prices decreased on average compared to the previous pricing review period. The decrease in the product prices are mainly due the low demand for motor fuels as driving activities slowed down in Europe because of the winter season.
3. Rand/US Dollar exchange rate
The average Rand/US Dollar exchange rate depreciated from USD R10.36 to USD R10.67 during the current fuel price review period 27 December 2013 to 30 January 2014. The weakening Rand followed similar trends in other developing markets.
4. Self-adjusting Slate Levy Mechanism Rules
In line with the Self-Adjusting Slate Levy Mechanism Rules, the Slate Levy on
petrol and diesel will increase by 2.2 c/l from 10.96 c/l to 13.16 c/l effective from 5 February 2014.
5. Fuel price changes
The fuel price increases to be effected on 5 February 2014 are as follows:
Petrol (All grades): 39.0 cl increase
Diesel (both grades); 24.0 c/l increase
IP wholesale: 12.0 c/l increase
SMNRP for IP: 16.0 c/l increase
Maximum LPGas Retail Price: 54.0 c/kg increase
Media enquiries:
Zodwa Batyashe
Tel: 012 406 7484
Cell: 082 455 9796
E-mail: mediadesk@energy.gov.za
