24 August 2000
Issued by: Department of Minerals and Energy
The Organisation of Petroleum Exporting Countries (OPEC) has not yet decided to further increase its crude oil production and a decision in this respect is anticipated to be taken at its next meeting in Vienna on 10 September 2000. The global shortage in the supply of crude oil results in the current high petroleum prices. A shift in the demand from petrol to diesel and other middle distillates is the result of the anticipation of the Northern Hemisphere winter heating season in specifically the USA and Europe. This demand cannot be satisfied by the US and European refining system nor from refineries in Asia. Again, the increase in fuel prices forces South African drivers to focus their attention on fuel-efficient driving. Tips in this regard will in the long run assist motorists to not only save fuel but also reduce road accidents. Skillful driving is a technique and is a sure way to saving money:
The basic prices of petrol, diesel and illuminating paraffin have once again increased during the current review period. In addition to these basic price increases the average Rand / Dollar exchange rate also deteriorated slightly and contributed to approximately 2,0c/l to the increases in the above products.
It is anticipated that the following price adjustments will be effected on 6 September 2000:
ENQUIRIES:
Mr. Kanyo Gqulu
Tel: (012) 317 9537
Fax: (012) 322 4954
Cell: 083 29 333 77
ISSUED BY GOVERNMENT COMMUNICATIONS (GCIS) ON BEHALF OF THE DEPARTMENT OF MINERALS AND ENERGY