Industry News

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21
Dec

SA’s number 1 fuel and convenience retailer leads the way in payment technology

Recognising the key role that digitisation is playing in the financial lives of more and more of its customers, South Africa’s leading fuel and convenience retailer Engen is prioritising electronic payment solutions at the core of its customer offering. With over 3.4 billion litres of fuel pumped from Engen forecourts in 2020, or approximately 25% of the local market, and some 327 million retail customer transactions honoured in that time,…

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21
Dec

Mantashe and Shell blasted in court: ‘Consultations were complete sham’

Communities opposed to the blasting have accused Shell of failing to conduct meaningful consultation. The Minister of Mineral Resources and Energy, Gwede Mantashe, has been lambasted for supporting Shell. Shell argues that the impact of the seismic survey on marine life is speculative. The High Court in Makhanda has reserved judgment in the application for an urgent interdict against the seismic survey conducted by Shell off the Wild Coast. The…

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21
Dec

Fuel supply hiccups characterise Zambia price increase as austerity kicks in

Fuel supply hiccups have characterised Zambia’s fuel price increase on Friday as the southern African country kick-started austerity measures under a $1.4 billion IMF supported economic reform programme. It was also expected that the fuel price increase would result in manufacturers passing on the development to consumers in the form of price increases for foodstuffs in the margin of up to 15%. This would likely result in inflation creeping up.…

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17
Dec

‘Significant’ coal shortage to wipe R5 billion off Sasol’s earnings

A coal supply shortage at Secunda is expected to impact earnings by between R3 billion and R5 billion. The shortage has resulted from a series of unfortunate events, ranging from safety incidents to poor weather.  Sasol insists the problems at Secunda are not a result of spending cuts.  Coal supply shortages affecting Sasol’s Secunda plant will wipe up to R5 billion off the group’s earnings in the current financial year,…

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17
Dec

SA consumer mood muted by fuel price hikes, power cuts

South African consumer confidence was largely flat in the fourth quarter as record-high fuel prices, a resumption of rolling blackouts, protests and supply-chain disruptions kept sentiment muted. A quarterly index measuring sentiment rose to -9 in the three months through December from -10 in the previous quarter, FirstRand Ltd.’s First National Bank said in an emailed statement Tuesday. While the level, last seen in the first quarter, matches the reading…

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17
Dec

Oil set for biggest weekly gain since August despite virus fears

Oil headed for its biggest weekly gain in more than three months after the deepest fears over the new virus strain receded, though traders remained on edge over the demand outlook. West Texas Intermediate futures have climbed 7.4% this week, as fuel consumption has so far escaped a major blow from the omicron variant. Yet the mood remained fragile after a sell-off on Thursday amid rising infections and renewed restrictions by…

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17
Dec

How much does it cost to fill up SA’s 5 most popular vehicles with fuel?

Petrol is the most expensive it's ever been in some parts of South Africa. SA's most popular vehicle costs almost R1500 per tank to fill up. Hybrid or turbo engine options might help you save fuel. For motoring news, go to Wheels24 Last month, 41 588 new vehicles found homes in South Africa despite the interest rate increase and the fuel price rise to breach R20 per litre for the first…

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06
Dec

Editorial | Price hikes suck the joy out of Christmas

here is little in the way of festive cheer for South Africans this year. Besides the rampant spread of the new Covid-19 variant – Omicron – plunging the country deep into a fourth wave, economic conditions are worsening, putting even more of a squeeze on consumers’ pockets, particularly the poor. The fuel price increase in the past week pushed the cost of a litre of petrol well beyond the R20…

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06
Dec

Outrage and calls for fuel price audit as motorists overpaid for petrol on Wednesday

Some motorists unwittingly paid 6c/litre more per litre of fuel than they should have on Wednesday morning due to a calculation error by the the Department of Mineral Resources and Energy. Petrol stations say they corrected the error by midday, and motorists should bring their payment slips for refunds. But the Automobile Association said the error is part of a bigger problem. Some motorists unwittingly paid 6c/litre more per litre of fuel…

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06
Dec

Human rights organisations lose bid to stop Shell from seismic exploration of Wild Coast

The Grahamstown High Court has dismissed an urgent application by four environmental and human rights organisations that sought the court to prevent Shell from conducting seismic surveys in the Wild Coast. Acting Judge Avinash Govindjee dismissed the application with costs, including the cost of two counsels. The applicants – Border Deep Sea Angling Association, Kei Mouth Ski Boat Club, Natural Justice and Greenpeace – approached the court on Tuesday for…

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