The International Energy Agency on Friday released a plan for an emergency reduction of oil demand. Russia's "appalling aggression" against Ukraine is driving the world toward its biggest oil supply shortage in decades, the IEA said.  Oil prices have gained about 40% in 2022, but are off their highs after Brent hit $139 a barrel. For more stories, go to www.BusinessInsider.co.za. Slashing speed limits and making public transportation cheaper to use…

Oil prices rose while stock markets diverged Friday, the end of another volatile trading week owing to developments in the Ukraine war. Focus remains on Russia's invasion of Ukraine and its impact on the global economy as surging commodity prices ramp up expectations of inflation across the world. Sanctions on Russia have raised concerns it could default on its debt, but Moscow said Thursday it had paid interest on dollar-denominated…

Soaring fuel prices have drawn attention to the millions of litres South Africa loses each year to heavily armed gangs of petrol thieves who terrorise farm workers and seem to understand Transnet fuel flows. Fuel theft not only costs the country millions, it also causes massive environmental damage to agriculture and rivers. Yet, it is unclear who is behind the gangs. We visit Vrede, a Free State town at the…

There has been significant talk the last month of fuel price possibly breaching R40/litre in South Africa. It is an unsettling thought that is sure to impact many families in more ways than one. Those among us who travel vast distances to our place of work will now also have to contend with the increasing prices. Just for April, it's speculated that both petrol and diesel prices could increase by…

Eskom expects running costs for its diesel-fed turbines, which are used to keep the lights on when coal-powered plants break down, to surge as it struggles to keep up with maintenance. Eskom sees about a third of its coal-fired capacity being unavailable at any one time under a most likely scenario, it said last week in a presentation to the National Economic Development and Labour Council (Nedlac), which groups business,…

Based on the current data, 95 octane petrol is set to increase by R2.15/l, 93 octane is expected to climb by R2.07/l, diesel by between R2.94/l and R3.08/l and illuminating paraffin by R2.51/l. “If realised at month end, these will be the biggest increases to fuel prices in South Africa’s history and will, undoubtedly, have major ramifications for all consumers and the economy in general. We must note, though, that…

South Africans need to buckle up and brace themselves for a steep rise in fuel prices in April. The Automobile Association (AA) is predicting that the price of 95 octane could skyrocket by R2.15 a litre, and diesel between R2.51 and R3.08 a litre. It was commenting on unaudited mid-month fuel price data released by the Central Energy Fund on Wednesday. These steep price hikes will see the cost of…

According to the latest data from the Central Energy Fund, petrol and diesel prices currently look set for record increases in the first week of April, says the Automobile Association (AA). Based on the current data, 95 octane petrol is set to increase by R2.15/l, 93 octane is expected to climb by R2.07/l, diesel by between R2.94/l and R3.08/l and illuminating paraffin by R2.51/l. The AA says the current data…

They say turn off your aircon, but are you expected to breathe polluted air? Coast in neutral. Until you hit the gas in an emergency and have zero acceleration. This additive or gadget will help you save fuel, but where's the proof? For motoring news, go to Wheels24 If you think the fuel price can't go any higher, do I have news for you. With the cost of petrol rising to…

Diesel is the workhorse of the global economy. It keeps trucks and vans, excavators and heavy machinery, freight trains and ships all buzzing - and even before the invasion of Ukraine impacted fuel prices, global diesel consumption had surged to an all-time high in the fourth quarter of 2021, says Javier Blas. Winston Churchill famously referred to Russia in 1939 as a series of layers: a riddle, wrapped in a mystery, inside…