To enjoy the full Mail & Guardian online experience: please upgrade your browser
28 Nov 2013 14:25
Petrol prices in South Africa are regulated and recalculated monthly according to movements in the rand and oil prices, and changes to taxes. (Oupa Nkosi, M&G)
South Africa will cut the proportion of fuel prices paid to wholesalers while boosting the margin allocated to petrol retailers to reward companies that invested in the industry, the Department of Energy said.
The new pricing system, implemented from December 4, will better align the returns received from fuel sales with investment, Robert Maake, director of fuel pricing at the department, told reporters in the capital, Pretoria, on Thursday.
Petrol prices in South Africa are regulated and recalculated monthly according to movements in the rand and oil prices, and changes to taxes. Currently, the retail margin is R1.04 a litre and the wholesale margin is 0.58 rand a litre.
Petrol cost R13.02 a litre in November.
The adjusted margins will be released tomorrow.
Create Account | Lost Your Password?