Misleading social media posts about the anti-migrant violence gripping South Africa have been spreading across the continent, fuelling tensions that have already sparked reprisal attacks in Nigeria. Some posts purporting to show the violence contain old images, or footage from a different country altogether. Tens of thousands of Facebook and Twitter users have watched videos showing people frantically jumping out of a burning building. If the captions are to believed,…

As from Wednesday, petrol will be increasing by 11c per litre for both 93 and 95, while diesel will be increasing by 26c per litre, Minister of Mineral Resources and Energy Gwede Mantashe has said. Illuminating paraffin will be increasing by 24c per litre wholesale. The main reason for the fuel price increase is the weakening of the rand against the US dollar on average, he added. The depreciation of…

As from Wednesday, petrol will be increasing by 11c per litre for both 93 and 95, while diesel will be increasing by 26c per litre, Minister of Mineral Resources and Energy Gwede Mantashe has said. Subscribe to Fin24’s newsletter here Illuminating paraffin will be increasing by 24c per litre wholesale. The main reason for the fuel price increase is the weakening of the rand against the US dollar on average, he…

Weakness in the Rand is expected to drive fuel prices higher in September, this is according to the Automobile Association (AA), which was commenting on unaudited month-end fuel price data released by the Central Energy Fund. According to the figures, 95 octane will rise by ten cents a litre, and diesel by 25 cents. The only positive out of the latest figures is 93 octane which is showing a decrease…

Sasol Limited [JSE:SOL] has been asked by some of the country’s biggest fund managers to consider executive changes including ousting Stephen Cornell, one of two chief executive officers, over cost overruns at a flagship project, according to people familiar with the matter. The money managers began meeting with Sasol’s board and leadership after it raised the estimated cost of the Lake Charles plant in Louisiana by $1 billion on May 22,…

Sasol, South Africa’s biggest company by revenue, said it held meetings with shareholders as dissatisfaction grew over cost overruns at the $13bn (nearly R200bn) Lake Charles chemical project in the US. The meetings began after Sasol raised the estimated cost of the project by $1bn (over R15bn at current rates) in May, having increased it only three months earlier, the company said in a response to questions. On August 16,…

Earlier in August, we published data by Lightstone Auto, revealing how the service station industry continues to evolve in a demanding local environment. Lightstone's data reports that the average motorist stops at a service station approximately nine times per month, typically covering 220km between stops. We asked readers how they felt about service stations in SA and our homepage poll garnered more than 11 000 votes. Sadly, 50% believe that…

The Automobile Association of South Africa has announced that petrol will increase by around 12 cents a litre, while diesel will be down by 16 cents in August. Illuminating paraffin is also down by eight cents a litre, according to the unaudited month-end fuel price data released by the Central Energy Fund. The AA said in a statement: “International oil prices have steadily trended upwards since the start of June, although…

Sudden Rand weakness after a lengthy period of stability has put pressure on the fuel price and left South African fuel users at the mercy of international oil markets. This is according to the Automobile Association (AA) which was commenting on unaudited mid-month fuel price data released by the Central Energy Fund. Based on the current data, petrol is showing an increase of up to ten cents a litre, illuminating…

Data specialists Lightstone reveals how the service station industry continues to evolve in a demanding environment. At the Nedbank Franchising Roadshow, Lightstone, pointed out that the service station sector plays a pivotal role in the transport and franchise industry. Linda Reid, Head of Commercial Property at Lightstone highlighted that service stations not only provide consumers with the essentials of fuelling-up their vehicles but also provide an array of additional retail…