Petrol and diesel prices look set to be hiked in the first week of February. The latest data from the Central Energy Fund (CEF) shows an expected increase of around 52 cents a litre for 95 unleaded petrol and 57c/l for 93 petrol. The diesel price could climb by between 22c/l and 33c/l, while the price of illuminating paraffin could increase by around 38c/l. The fuel prices are usually adjusted…

The latest data is showing an increase of around 52 cents a litre for 95 ULP petrol and an increase of around 57c/l for ULP93 petrol and increases of between 22c/l and 33c/l for diesel. The price of illuminating paraffin will climb by around 38c/l. “The data is showing that price increases to international petroleum products are the main driver behind this expected increase to local fuel prices, while the…

Russia's war in Ukraine is hitting Africans particularly hard by exacerbating food insecurity and putting an unnecessary drag on the continent's economy, U.S. Treasury Secretary Janet Yellen said in Senegal's capital Dakar on Friday. Yellen said ending the war would be the best thing to help the global economy, but the Treasury estimated that a Group of Seven-led price cap on Russian crude oil and refined products to limit Russia's…

Eskom is peering into an abyss. Its second batch of diesel is expected to run out at the end of January 2023, write Mariam Isa and Chris Yelland of EE Business Intelligence. For more financial news, go to the News24 Business front page. Eskom is living hand-to-mouth in its efforts to obtain the diesel needed to continue running its open-cycle gas turbines (OCGTs), which, in the face of prolonged power generation outages, is the only…

For more financial news, go to the News24 Business front page. PetroSA is seeking partners to assist in the refurbishment and restart of its gas-to-liquids (GTL) refinery in Mossel Bay, with an aim to have full production back up and running as soon as possible. Having operated for almost 30 years, production of petrol, diesel, and other value-added products from the refinery was suspended in 2020 due to offshore gas and condensate feedstocks running…

For more financial news, go to the News24 Business front page. After a steep fall in January, petrol and diesel prices are currently on track for more cuts in February, the latest information from the Central Energy Fund shows. However, recent strong gains in the oil price and a weaker rand may put price cuts at risk. The fuel prices are usually adjusted on the first Wednesday of a month and determined by…

For more financial news, go to the News24 Business front page. The bodies of two suspects were found near Kibler Park in Johannesburg after the latest attempt to steal fuel from a Transnet's pipeline, the parastatal reported on Monday. One body was found in a shack located some 30 metres away from Transnet's petroleum pipeline and the other was found in a tunnel burrowed between the shack and the pipeline. "It is suspected…

The EU, the G-7 and its allies will next month impose a cap on the price of Russia’s refined fuel exports, including diesel.  The move has some oil-market watchers concerned about the potential for price spikes.  Sanctions are likely to see a great rerouting of global diesel flows. For more financial news, go to the News24 Business front page An unprecedented chunk of the global diesel market, the workhorse fuel of the global…

WATCH Tanker overturns in Ekurhuleni two weeks after deadly explosion, people rush to siphon fuel Motorists were warned to avoid the intersection in Ekurhuleni where a diesel tanker crashed on Friday. Spilled diesel was still on the road and another tanker was on the scene to remove unspilled diesel from the trailer. The Road Freight Association said operators compliant in all aspects would have fewer incidents. As authorities work to…

A diesel tanker overturned in Wadeville, Ekurhuleni on Friday morning and emergency services officials had a hard time preventing people from getting closer to the scene to siphon off fuel. This incident comes nearly two weeks after another tanker carrying liquid gas in Plantation, 11km away, on Christmas Eve, exploded. The explosion on Christmas Eve claimed the lives of 37 people, and authorities say this number could still rise. Authorities on…