Industry News

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29
Jan

Petrol price likely to go up in February – AA

The price of petrol is likely to go up and that of diesel down in February, according to the Automobile Association (AA). The AA was commenting on unaudited month-end fuel price data released by the Central Energy Fund (CEF). The current picture shows petrol increasing by around eight cents a litre, while diesel is set to drop by three cents and illuminating paraffin by nine cents, in the view of…

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18
Jan

Saudi Arabia’s $10bn investment in SA to bring new refinery, petrochemical plant

Minister of Energy Jeff Radebe and Saudi Minister of Energy, Industry and Mineral Resources Khalid Al-Falih announced on Friday that the Arab kingdom’s $10bn investment in South Africa would come in the form of a new crude oil refinery and petrochemical plant. The two ministers held bilateral talks in Pretoria on Friday morning to discuss the details of the $10bn investment announced in July of 2018. They also discussed the…

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18
Jan

Zim inflation shoots up again – before massive fuel hike

Zimbabwe's inflation rate is shooting up again, reaching 42% year-on-year in December. This was before the recent massive fuel price hikes which resulted in an ongoing national shutdown and days of protests. The year-on-year inflation rate for the month of December 2018, as measured by the all items Consumer Price Index, stood at 42.09%, according to Zimbabwe National Statistics. This is 11 percentage points higher than the annual November rate…

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14
Jan

Zim fuel hike: Angry protesters burn tyres, block buses from carrying passengers

Commuters were stranded in Zimbabwe's two main cities on Monday as angry protesters reacting to the weekend more than doubling of fuel prices, burned tyres and used rocks to barricade roads and blocked buses from carrying passengers. President Emmerson Mnangagwa on Saturday announced a more than 100% rise in the price of petrol and diesel in a move to improve supplies as the country struggles with its worst fuel shortages…

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14
Jan

Zim unions to strike as fuel prices more than double

Zimbabwe’s powerful labour-union confederation called for a national strike starting in the early hours of Monday after the government more than doubled fuel prices to among the highest in the world. The Zimbabwe Congress of Trade Unions, which represents most labour unions in the southern African nation, issued the call Sunday, a day after the government boosted prices of gasoline to $3.11 (roughly R43) a liter from $1.34 and diesel…

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