Fuel price increases have been relentless over the last few months, putting more pressure on the budgets of South Africans who are filling up their tanks at a much higher cost. Standard Bank’s UCount Rewards Programme is helping consumers to limit the impact of the high fuel price on their budgets by enabling its members to redeem their Rewards Points at Caltex fuel stations around the country. The programme has…

South Africa’s economy will face a price hike by Sasol for gas supply that will add about R325 million a month to the cost, according to an association of users of the fuel. "The current gas pricing uncertainty holds risk" for the biggest buyers, the Industrial Gas Users Association of Southern Africa said in a statement Wednesday, referring to a 96% price increase that took effect August 1. Sasol delivers…

An illegal fitting discovered on Transnet's fuel pipeline between Jameson Park and Alrode in Gauteng on Sunday caused a leak that left emergency workers fighting to contain the spread of a pool of diesel, water and sewerage. The incident comes on the back of a dramatic spike in fuel theft as prices rocket. In its response to questions from Fin24, Transnet Pipelines did not specify how much diesel was spilled.…

The average gallon of petrol in the US declined to $4.113 (R69) on Friday, compared to $4.800 (R81) one month ago.  Prices have declined in recent weeks, however they remain 28.9% higher than one year ago's $3.190 (R55) rate.  Fuel demand has dropped off dramatically, hitting levels not seen since the pandemic in July 2020, EIA data shows.  For more stories, go to www.BusinessInsider.co.za. US gas prices declined to $4.113 (R69)…

The federal government's announcement of a halved fuel excise is no doubt music to many people's ears. Following  Australia's budget release, the excise (a government tax included in the purchase price of fuel) was halved from 44.2 cents per litre to 22.1 cents. South Africa also sees a small drop in fuel for the first time in months, albeit almost insignificant. It should provide some respite from high petrol and diesel…

To help its customers to keep their heads above water during this difficult economic period, Absa will be providing significant additional fuel cash back through the Absa Rewards Programme for the next three months. From 16 July to 16 October 2022, Rewards members will earn up to 40% cash back when they fill up at Sasol. At present, Absa Rewards members can earn up to 30% real cash back every…

Sasol, South Africa’s biggest fuel producer, restarted the Natref refinery it owns with TotalEnergies after delayed oil deliveries last month resulted in a shutdown. The disruption caused Sasol to declare a force majeure on petroleum products, which remains in effect. The 108,000 barrel-a-day plant is now "online and production ramp-up is in progress", the company said in response to emailed questions. Natref’s shutdown also meant the whole of South Africa’s…

Four suspected diesel thieves were caught red-handed in Parow early on Monday morning. The men were caught while the truck driver was asleep in the vehicle. They had siphoned off approximately 125 litres of diesel by the time traffic officers arrived. Four men have been caught in the act of stealing diesel from a truck parked in Parow. The men - aged 26, 28, 31 and 39 - were arrested…

As interest rates increase to curb rising inflation, coupled with fuel and loadshedding, amongst other challenges - all putting pressure on the profit margins of SMEs, FNB says the silver lining potentially lies in managing cash flow effectively and efficiently. The past few months haven't been easy for small businesses as fuel increases have significantly increased the cost of transporting goods. Moreover, loadshedding has resulted in some businesses losing revenue…

Energy providers Centrica and Shell both just booked record profits as fuel costs rise. Europe is experiencing a gas crisis, with one key benchmark doubling in two months. British households' energy bills could have tripled by the end of the year, according to the consultancy firm BFY. For more stories, go to www.BusinessInsider.co.za.  Soaring gas prices are bad news for consumers - but they're helping major energy companies to rake in…