Zimbabwe’s powerful labour-union confederation called for a national strike starting in the early hours of Monday after the government more than doubled fuel prices to among the highest in the world. The Zimbabwe Congress of Trade Unions, which represents most labour unions in the southern African nation, issued the call Sunday, a day after the government boosted prices of gasoline to $3.11 (roughly R43) a liter from $1.34 and diesel…

The retail price of petrol (93 ULP & LRP) will go down by R1.22 per litre in January, the Department of Energy announced on Friday. It will come into effect on Wednesday January 2, 2019. Petrol (95 ULP & LRP) will decrease by R1.23 per litre, while diesel (0.05% sulphur) will go down by R1.53 per litre and diesel (0.005% sulphur) will decrease by R1.55 per litre. The wholesale price…

2019 will kick off with good news for motorists according to the unaudited month-end fuel price data released by the Central Energy Fund, showing a substantial drop across the board. Should this decrease materialise, it will amount to a more than R2 decrease in the fuel price since the beginning of December, bringing much-needed relief to consumers battered by considerable increases throughout the year. The main driver of these reductions…

South Africa’s Department of Energy proposed changes to the structure of the nation’s basic fuel price as it seeks to reduce the cost of petrol and diesel. The proposals include making Singapore the main reference market for the basic price of petrol, diesel and kerosene, removing a premium on the freight rate and reducing the coastal storage element in the calculation. The basic fuel price accounts for just under half…

Global oil giant Total will commence with exploration drilling off SA’s south coast next month, after four years of planning. Total’s return also signals renewed investor confidence in SA, where exploration activity has been stalled by chronic policy uncertainty. But the government’s proposed withdrawal of the contested Minerals and Petroleum Resources Development Act Amendment Bill, and a commitment to develop a separate policy framework for oil and gas sectors, has…

The Fuel Retailers Association, representing more than 2,500 fuel retailers, has hit back at the government’s proposal to cap the price of 93 octane petrol, claiming it will cut into wafer-thin profit margins and accelerate job losses in the sector. In a bid to ease the pressure high petrol prices are putting on consumers, the department of energy has proposed capping the price of 93 octane petrol. It says that…

Government is keeping the petrol price unchanged. However there will be price increases for other fuels. The department of energy (DOE) released the fuel price changes for November on Monday. In the statement, the DOE indicated there would be no change to both grades of petrol. Diesel (0.05% sulphur) will increase 47.92 c/l, while diesel (0.005% sulphur) will increase 50.92 c/l. Illuminating paraffin (wholesale) will increase 28 c/l increase and…

Fuel prices have moderated during October, with the prospect of some relief for petrol users, although users of diesel n will have to cough up more, this is according to the Automobile Association (AA), which was commenting on unaudited month-end fuel price data released by the Central Energy Fund. "The exchange rate started the month badly but has since levelled out," the AA says. "The Rand's modest gains against the…

Treasury has warned that the Road Accident Fund represents a potentially large liability, and the 30c/l increase in the levy earlier this year may not be enough. The levy was upped in late February from 163c/l to 193c/l. The RAF is a state-owned entity that provides compulsory cover for users of SA roads against injuries or death arising from accidents within SA. According to Treasury's medium-term budget policy statement, tabled…

The Automobile Association has warned of an eighth consecutive fuel price increase at the end of October, saying petrol could increase by 40 cents per litre, diesel by 70c/l and illuminating paraffin by 65c/l. The association, commenting on the unaudited mid-month data from the Central Energy Fund, noted that international oil prices “remain stubbornly high” while the current tensions involving Saudi Arabia, the US and the suspected murder of Saudi…