The diesel price decreases from 6 August while the petrol price remains unchanged for August states the Department of Energy.

The reasons for the diesel price decrease is mainly due to (a) the average decrease in the prices of petroleum products (petrol, diesel, Illuminating Paraffin and Liquefied Petroleum Gas) in the international markets; and (b) the strengthening of the Rand against the US Dollar (on average) when compared to the previous period. Furthermore, the Department has increased the slate levy by 4.38 c/l in line with the self-adjusting slate mechanism.

Based on current local and international factors, the fuel prices for August 2014 in the South African market will be adjusted as follows:

1. Diesel will decrease by 5.62 cents/ litre

2. Petrol (both grades) will remain unchanged from last month.

The Department of Energy is however concerned about the conflicts in Ukraine, Iraq, Libya and the ongoing confrontation between Israel and Palestine, because they could have a negative impact on fuel prices going forward.

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