South Africa's petrol price is lower than the global average. And it's about average for Southern Africa, too. We're still far off the world's priciest petrol - and even far from the most expensive in Africa. Which admittedly is cold comfort, given we're now paying R10 a litre more than we did in 2013. Here's how South Africa's petrol price compares to our neighbours, Africa, and the priciest countries abroad.…

Petrol prices will jump on Wednesday amid a supply crunch worldwide, the Department of Mineral Resources and Energy announced on Monday night. The price of both 95 and 93 unleaded petrol will be hiked by R1.27 a litre, while diesel will go up by between 30c and 32c. Illuminating paraffin will increase by 13c a litre, while the maximum retail price for LP gas will be hiked by R5.22 a…

Current unaudited fuel data from the Central Energy Fund (CEF) is showing significant increases to petrol prices are likely in March. Commenting on the data, the Automobile Association (AA) said the numbers are also pointing to increases in the wholesale price of diesel and to illuminating paraffin. According to the data, 93ULP and 95 ULP petrol is expected to climb by between R1,22/F and R1,27/lF, while diesel is expected to…

For more financial news, go to the News24 Business front page. March may bring a large hike in the petrol price, the latest information from the Central Energy Fund shows. With two weeks to go before the prices are fixed, the fund's data shows that 95 unleaded petrol could be increased by more than R1.20 a litre in March, while diesel may be hiked by 38c. The fuel prices are usually adjusted on…

Russia announced on Friday it will cut crude oil production by 500,000 barrels per day in March. The move followed Moscow's vow to retaliate against EU price caps on its crude and refined fuel products. It is also likely that Russia is cutting supplies because it's struggling to sell its oil, per ING. For more stories visit Business Insider. Russia's oil supply cut may not be what it is cracked…

Loyalty schemes continue to use South Africa's high petrol price to lure or entrench more customers. There are now at least 12 fuel reward programmes in South Africa, including from pharmacies, banks, insurance companies, supermarkets, and filling stations. Some are better than others, and all come with caveats - including being tied to specific petrol station brands and only being able to spend rewards at certain outlets. This makes picking…

South Africa pumps as much as one billion litres of fuel per day. And with SA's petrol price now well over R20 a litre, it stands to reason that filling stations are good businesses to own. But a new petrol station isn't cheap or easy to start - nor is it necessarily as lucrative. A new station will easily set you back several million - and increases in the petrol…

PetroSA is trying to figure out what to do with its mothballed refinery at Mossel Bay. It is looking for partners with oil, or money, or preferably both plus the backing of a nation state. Under one of its scenarios, its operation could produce enough fuel for a third of SA needs. The refinery shut down in 2020 for lack of raw oil and gas, and massive new gas fields…

Load shedding is crippling economic activity, which will negatively impact tax revenue collections, economists warn. Consumers are already distressed in the current economy, and there is no room for tax hikes, says a tax expert. Sin taxes on alcohol and tobacco products, as well as fuel levies, are expected to increase, according to an economist. For more financial news, go to the News24 Business front page. The current economic environment does not bode…

Tomato sauce, Coca-Cola and fuel pills are fuel-saving hacks you should avoid. Simple driving behaviour changes could help reduce your fuel bills. We take a look at what works, and what you should avoid. Fuel prices dropped significantly last month, and South Africans could not have been happier. But deep down, we knew it was going to be short-lived. The Automobile Association of South Africa reported that the first fuel…