Industry News

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31
Mar

Fuel prices could reach record highs in April, warns AA

The Automobile Association (AA) expects a further hefty hike in fuel prices in April. It expects the fuel price for April could be in the region of R17.32 per litre for ULP 95 inland. The previous high was R17.08 set in late 2018. Commenting on Tuesday on unaudited month-end fuel price data released by the Central Energy Fund, the AA said petrol is set for a massive increase of 73…

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25
Mar

Oil demand to reach record by 2026, says IEA

Oil markets and the world economy are recovering from the massive collapse in demand caused by the coronavirus pandemic. Global oil demand will return to pre-pandemic levels in two years and reach record heights by 2026 unless governments take swift action to meet climate goals, the International Energy Agency has said. More governments are focusing on a potential "sustainable recovery" to move quickly towards a low-carbon future. Global oil demand will…

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25
Mar

April’s petrol price may be 25% higher than a year ago. Here’s how much is going to tax

Petrol looks set for a hike of almost R1.20 in the first week of April. The price of Gauteng 95 unleaded petrol looks set to reach R17.48 - 25% more than a year ago. Some 35% of the fuel price will go towards tax. For more articles, go to www.BusinessInsider.co.za. South African fuel prices look set for a monster hike in the first week of April, which could mean that the…

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25
Mar

‘Huge’ diesel discounts and selling poor quality petrol could get garage owners 10 years in jail

Illicit fuel trading is putting them out of business, legal retailers say, and they want action. A new team of police officers and tax agents has been established to inspect petrol stations and depots. This coincides with amendments to the Petroleum Products Act, which focuses extensively on diesel. The retail price of diesel is not regulated but “skimming” and diluting – which result in discounted retail rates – have become…

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25
Mar

WATCH | UPDATED Fuel tanker alight on N3 | Some lanes open on Pass

As the clean up operation occurs at the site of Wednesday's earlier truck crash and fire on Van Reenen’s Pass. Traffic is being accommodated contraflow on the southbound section of the N3 Toll Route, while the northbound lanes on the Pass remain closed, reports the N3 Toll Concession. The highway was closed in both directions earlier. However, two northbound lanes at Tugela Plaza and the Tugela East Ramp Plaza will…

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23
Mar

Expecting the worst: Here’s how a litre of petrol could cost you R17.48 this April

Fuel prices will see another increase in April 2021. • A litre of petrol could cost R17.48, inland. • The price of petrol will increase by around R1.16/litre. • For more motoring stories, go to www.Wheels24.co.za   Follow @Wheels24 Fuel levy increases at a difficult time in the country's economy will contribute to what are expected to be extremely high fuel price increases at the end of March going into April. According to the…

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16
Mar

Expect ‘extremely high’ fuel price hikes at month end, AA warns

The AA warns that petrol is set for to increase by approximately 90 cents a litre, diesel by some 66 cents, and illuminating paraffin by around 62 cents - even before increases to levies are taken into account. The association was commenting on unaudited mid-month fuel price data released by the Central Energy Fund. Either the rand or international oil prices would require a sharp reversal if the picture is…

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11
Mar

Minister cracks down on Eskom, Sasol over pollution

Eskom and Sasol have sought to avoid installing so-called flue-gas desulfurisation (FGD), units at their facilities to reduce sulfur dioxide pollution because of the cost. South Africa is the world’s 12th-biggest source of greenhouse gases and relies on coal for almost all its power generation. Eskom has 15 coal-fired plants. Environment Minister Barbara Creecy plans to present the Climate Change Bill to parliament this year with the aim of making the…

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04
Mar

A US city just voted to ban new petrol stations as the state eyes an all-electric future

Petaluma, California, finalised an amendment to ban the construction of new gas stations on Monday.  The Petaluma City Council also moved to streamline the process for building EV charging stations.  The small city aims to be carbon neutral by 2030.  Visit Business Insider for more stories. Petaluma, California on Monday became the first US city to ban the construction of new petrol pumps and stations as a global push toward…

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04
Mar

Fuel price to increase at midnight

Motorists will be digging deeper into their pockets when paying for fuel as the prices are set to increase with effect from midnight, March 3. The price of petrol is expected to increase by 65 cents per litre, while a litre of diesel will go up by between 54 and 57 cents and paraffin by 47 cents. The price hikes come as food prices also go up and an increase…

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