Faizel Patel, Radio Islam - 28-12-2019
There will be some relief for motorists at the petrol pumps in the New Year after the Energy Department announced that the price of 93 grade petrol will decrease by 4 cents per litre while 95 grade decreases by 14 cents from 1st January 2020.
The prices of different grades of diesel go up by 9 cents per litre while illuminating paraffin will increase by 5 cents per litre.
The price of LP gas decreases by 24 cents per kg.
The Energy Department says while average Brent Crude oil price increased during the period under review, the main reasons for the decrease in the fuel price is the Rand appreciated, on average, against the US Dollar (from 14.80 to 14.47 Rand per USD) during the period under review when compared to the previous one.
In line with the Motor Industry Bargaining Council (MIBCO) agreement, Minerals, Resource and Energy Minister Gwede Mantashe has also approved an increase in the retail margin of petrol of 5.60 cents per litre to cater for the salary increase for pump attendants, cashiers and other administration staff.
“This money will be ring-fenced for the wages of the forecourt staff, cashiers and administration personnel at all the service stations in the country.”
South Africa’s fuel prices are adjusted on a monthly basis, informed by international and local factors.