Almost mid-way through the month, the latest data from the Central Energy Fund show that petrol prices may be cut in the first week of October. However, diesel is on track for a price hike. Based on the latest data, the price of 95 unleaded petrol is expected to fall by around R1.45 a litre. At current levels, the 95 petrol price in Johannesburg could move below R22 a litre in…

Unfortunately, reining in costs isn't simply a matter of "doing something" - and usually, using fuel more sparingly is the only way they can reliably save, writes Professor Jannie Rossouw. Get the biggest business stories emailed to you every weekday or go to the Fin24 front page. Buying fuel is a grudge purchase, as most consumers have no other options in the matter. Fully electric vehicles are the only exception and other vehicles require fuel. Consumers…

Get the biggest business stories emailed to you every weekday, or go to the Fin24 front page. The European Commission wants to require fossil fuel companies benefiting from soaring energy prices to make a financial contribution to help citizens and industries grappling with rocketing energy costs, according to a draft document seen by Reuters. The draft proposal, details of which are expected to be unveiled by Brussels this week, would see European Union countries introduce a 'solidarity…

African Bank recently announced its new loyalty programme "Audacious Rewards". The loyalty programme will allow members to earn and redeem points on daily purchases, including groceries, fuel, and exclusive aspirational rewards. African Bank aims to reward customers' positive financial behaviour with an improved credit score. For more stories go to www.BusinessInsider.co.za.  African Bank recently announced the launch of its new loyalty programme, "Audacious Rewards", aimed at making various financial services easily…

TotalEnergies has lodged its production licence application for Block 11B/12B offshore of South Africa, the national petroleum regulator said on Tuesday, before a deadline expired which might have seen the oil major forfeit its right to develop the huge discovery. The deadline would have expired this week. The application was filed on Monday and "will be assessed for completeness over the next 14 days", the Petroleum Agency of South Africa…

The price of both 93 and 95 unleaded petrol will be lowered by R2.04 a litre on Wednesday, the Department of Mineral Resources and Energy announced on Monday. This will lower the price of 95 petrol in Gauteng to R23.38 a litre, from a record high of R26.74 in July. That said, petrol cost only R19.61 at the start of the year. Bloomberg reports that this week's cut of 8%…

Get the biggest business stories emailed to you every weekday, or go to the Fin24 front page. Europe's wealthiest nations face rising risks of civil unrest over the winter, including street protests and demonstrations, due to high energy prices and mounting costs of living, according to a risk consultancy firm. Both Germany and Norway are some of the developed economies experiencing disruptions to everyday life because of labour actions, a trend already seen in the United Kingdom,…

On Friday, Sasol said it was partnering with Japan’s Itochu Corporation to explore the development of green hydrogen and green ammonia projects for shipping fuel and power generation. Sasol, a global chemicals and energy company, is the world’s biggest producer of fuel products and chemicals from coal, but is transitioning away from the fossil fuel as part of its decarbonisation plan. Green hydrogen, produced from splitting water into hydrogen and…

Get the biggest business stories emailed to you every weekday, or go to the Fin24 front page. An explosion rocked a key oil refinery in Iran's southwestern city of Abadan overnight, state media said Friday, reporting no casualties. The explosion was caused by the "bursting of one of the furnaces of the sulphur production unit of Abadan refinery", state news agency IRNA said. The blast "did not cause any casualties", it added, noting that production at the…

Get the biggest business stories emailed to you every weekday, or go to the Fin24 front page. According to the latest data from the Central Energy Fund, the price of 95 unleaded petrol is expected to fall by around R2.35 a litre on Wednesday. The price of 93 petrol could drop by around R2.18 a litre. Diesel looks set to be reduced by between 77c and 87c a litre. The price of illuminating paraffin is also…