The price of diesel and petrol are set to decrease on Wednesday 4 June.

The Department of Energy in a statement said this decrease in the prices of all the petroleum products is due to changes in international factors, namely, crude oil prices, the Rand/ Dollar exchange rate and the prices of finished products. The Rand appreciated against the US Dollar from

$10.55 to $10.40 during the period under review contributing to the fuel price decreases to be effected on 4 June 2014.

Locally, the price changes have been influenced by the reduction of the slate levy by 6.58 cents per litre, in line with the self-adjusting slate mechanism. A slate levy is the money that is collected from motorists to compensate the industry for cumulative under recovery. This arises because the fuel prices are adjusted once a month, but international factors change on daily basis.

Based on current local and international factors, the fuel prices for June 2014 in the Gauteng Zone will be adjusted as follows:

1. Diesel will decrease by 25.58 cents/ litre

2. Petrol will decrease by 22.0 cents/litre.

The pricing schedule for the other pricing zones will be published on Tuesday, 03 June 2014.

South Africa’s fuel prices are adjusted on a monthly basis, informed by international and local factors.