The Minister of Mineral Resources and Energy, Gwede Mantashe, today announced the adjustment of fuel prices, with effect from 6 July. Based on current local and international factors, the fuel prices for July 2022 will be adjusted as follows: Petrol (both 93 ULP and LRP): R2.37 increase; Petrol (both 95 ULP and LRP): R2.57 increase; Diesel (0.05% sulphur): R2.31 increase; Diesel (0.005% sulphur): R2.30 increase; Illuminating Paraffin (wholesale): R1.66 increase; Maximum…

Motorists will face large fuel price hikes on Wednesday, as the petrol levy cut falls from R1.50 a litre to 75c. Petrol prices will be hiked by R2.37 (93) and R2.57 (95) a litre, while diesel prices will rise by R2.31 (0.05% sulphur) and R2.30 (0.005% sulphur) a litre, the Department of Mineral Resources and Energy announced on Monday. In Gauteng, a litre of 95 petrol will cost R26.74 from…

The South African energy sector is undergoing significant and exciting change, and the fuel retail industry is at the forefront of transformational change in this country. Although historically, wealth and ownership have been concentrated within the industry, new partnerships and initiatives by banks and other vital role players are helping grow the sector and share benefits with a broader base of business owners. In 2018, Nedbank Commercial Bank's franchise team…

The price of petrol in South Africa has increased by 40% over the past year, with more pain at the pumps on the horizon. Banks and businesses with reward programmes are looking to soften the blow for members of their reward programmes. Members of Old Mutual's rewards programme will receive 25% off fuel when they top up with points at TotalEnergies garages. These points can be earned by completing financial…

Germany want the Group of Seven nations to walk back a commitment that would halt the financing of overseas fossil fuel projects by the end of the year. That would be a major reversal on tackling climate change as Russia’s war in Ukraine upends access to energy supplies. The debate comes as Europe struggles for alternative sources of fuel to Russian gas.  Germany is pushing for Group of Seven nations…

Sasol's sustainability business has announced it has joined partnerships to develop sustainable aviation fuels. One of these, the Green Fuels Hamburg, aims to decarbonise the aviation sector, by producing at least 10 000 tons of kerosene annually. Sasol ecoFT is leveraging the group's Fischer-Tropsch technology to convert green hydrogen to sustainable carbon sources. Sasol's sustainability business has announced two new international partnerships to develop sustainable aviation fuels. The first is…

South Africa's political history has left concentrations of business ownership and control in many industries, but it's an issue particularly pronounced in the fuel industry. To comply with South Africa's Fuel Liquid Charter, businesses in the industry must transform. But industry experts believe that transformation in the industry is as much about compliance as it is about creating a sustainable business for the long term. "Like most other countries, the…

Sri Lanka's parliament has cancelled its remaining sittings for the week to save fuel, officials said Thursday, with a disastrous economic crisis rapidly depleting the island nation's already scarce petrol supplies. A critical shortage of foreign currency has left importers unable to finance purchases of food, oil and medicines, while runaway inflation and regular blackouts have made life a misery for the South Asian country's 22 million people. Parliamentary officials…

Cape Town taxi commuters are fed up with fare hikes.  Local taxi associations say they are forced to up their prices due to crippling fuel price increases.  Golden Arrow Bus Services, however, chose not to increase fares just yet.   The recent hike in the petrol price is causing Cape Town taxi commuters massive financial strain as transport fares across the Cape Peninsula have increased once again. In June, taxi associations…

Increases in the domestic price of fuel are big news in South Africa, with the price of petrol, diesel and paraffin reaching new highs. The underlying reason for the price increases is movements in the international price of crude oil. The acceleration in the international price of crude oil is linked to the Russian war in the Ukraine. The expectation is that the crude oil price will remain at an elevated level for the duration…