Industry News

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04
Mar

Higher oil prices to drive hikes in fuel from Wednesday

South Africans must brace themselves for higher fuel prices across the board from Wednesday. The Department of Mineral Resources and Energy on Tuesday published fuel price adjustments for March. They are: Both grades of petrol will increase by 65.00 cents per litre (c/l); Diesel (0.05% sulphur) will increase by 54.00 c/l; Diesel (0.005% sulphur) will increase by 56.00 c/l; Illuminating paraffin (wholesale) will increase by 47.00 c/l; Single maximum national…

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01
Mar

Expect steep fuel prices in March, AA warns

The price of petrol could rise by as much as 66 cents per litre, and diesel 57 cents per litre in March, according to the Automobile Association's (AA) estimates. The AA on Friday issued a statement outlining that the imbalance between supply and demand for oil would mean more hikes are likely. There have been eight weeks of price climbs – and there is no sign yet that a ceiling…

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25
Feb

India’s petrol prices are so high, exported fuel is being smuggled back in

Pump prices are so high in India that some of the gasoline and diesel exported to neighboring countries is being smuggled back through porous land borders. A large oil truck loaded with 1 360 liters of diesel that was being smuggled to India, where pump prices are at a record, was held last week in Nepal, the police said in a statement. Pump prices of gasoline, which have breached the 100 rupee…

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16
Feb

Another fuel hike expected in March

Bullish international oil prices are setting the stage for yet another hefty hike in fuel prices. This is according to the Automobile Association (AA), which was commenting on unaudited mid-month fuel price data released by the Central Energy Fund. The Association said the current picture shows month-end increases of up to 56 cents a litre for petrol, 47 cents for diesel, and 41 cents for illuminating paraffin. “Oil prices advanced…

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16
Feb

Here’s how much the worsening price of oil will impact SA motorists’ wallets this March

South African fuel prices are set for another increase in March 2021. • The price of petrol could increase by as much as 56c/litre. • The international oil price is affecting local prices negatively. • For more motoring stories, go to www.Wheels24.co.za Bullish international oil prices are setting the stage for yet another hefty hike in fuel prices. According to the Automobile Association (AA), this is commenting on unaudited mid-month fuel price data released…

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16
Feb

Petrol price could jump 56 cents a litre in March, AA warns

Ad South African consumers can brace for yet another hefty fuel price hike in March, the Automobile Association said on Monday. The association expects month-end increases of up to 56 cents a litre for petrol, 47 cents for diesel, and 41 cents for illuminating paraffin. This is due to bullish international oil prices. The AA was commenting on unaudited mid-month fuel price data released by the Central Energy Fund. "Oil…

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15
Feb

Exxon and Chevron discussed merging to former second-largest oil company: report

The CEOs of Exxon and Chevron discussed merging the two largest US oil companies, the Wall Street Journal reported. The talks came in the early days of the pandemic, which battered the energy sector. Visit Business Insider's homepage for more stories. Exxon and Chevron discussed merging the oil companies last year, a move that would have likely created the second-largest oil company in the world, The Wall Street Journal reported Sunday. The…

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10
Feb

Durban refinery blast: Parliamentary committee slams Engen for ‘blame-shifting’

Parliament's committee on environment, forestry and fisheries says it is unhappy with Engen, after an oversight visit to Durban following a blast at the company's refinery last year. Residents affected by the explosion said they were not taken seriously by the local government or Engen, and people remained sick and traumatised. The portfolio committee said it would request more reports and information from Engen before returning to the affected communities.…

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04
Feb

Eskom, Sasol rebuffed, Creecy says in pollution suit fight

Environmental Affairs Minister Barbara Creecy said she rejected pleas for leniency from senior executives at the country’s two biggest air polluters as she responded to a lawsuit that says her office has breached constitutional rights to clean air. In a 260-page answering affidavit to a lawsuit filed against her by environmental non profits she argued that while the country’s developmental needs must be balanced against environmental concerns, she had nevertheless…

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02
Feb

Major spike in fuel prices in February

Fuel prices are set to jump significantly on Wednesday 3 February on the back of increases in average international product prices for petrol, diesel and illuminating paraffin. Both grades of petrol – 93 and 95 (or unleaded and lead replacement) – are set to increase by 81 cents per litre, while diesel 0.05% sulphur will increase by 58 cents per litre. Diesel 0.005% sulphur will increase by slightly more at…

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