Industry News

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06
Dec

Editorial | Price hikes suck the joy out of Christmas

here is little in the way of festive cheer for South Africans this year. Besides the rampant spread of the new Covid-19 variant – Omicron – plunging the country deep into a fourth wave, economic conditions are worsening, putting even more of a squeeze on consumers’ pockets, particularly the poor. The fuel price increase in the past week pushed the cost of a litre of petrol well beyond the R20…

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06
Dec

Outrage and calls for fuel price audit as motorists overpaid for petrol on Wednesday

Some motorists unwittingly paid 6c/litre more per litre of fuel than they should have on Wednesday morning due to a calculation error by the the Department of Mineral Resources and Energy. Petrol stations say they corrected the error by midday, and motorists should bring their payment slips for refunds. But the Automobile Association said the error is part of a bigger problem. Some motorists unwittingly paid 6c/litre more per litre of fuel…

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06
Dec

Human rights organisations lose bid to stop Shell from seismic exploration of Wild Coast

The Grahamstown High Court has dismissed an urgent application by four environmental and human rights organisations that sought the court to prevent Shell from conducting seismic surveys in the Wild Coast. Acting Judge Avinash Govindjee dismissed the application with costs, including the cost of two counsels. The applicants – Border Deep Sea Angling Association, Kei Mouth Ski Boat Club, Natural Justice and Greenpeace – approached the court on Tuesday for…

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06
Dec

If e-tolls are scrapped, fuel will become even pricier, warns Mantashe

Mineral Resources and Energy Minister Gwede Mantashe warned that if e-tolls were scrapped, South Africans will pay even more in fuel levies. E-tolling was first introduced by government in 2011 as a means to fund the R17.9 billion Gauteng Freeway Improvement Project. But it has been thwarted by low compliance and large-scale civil disobedience. Speaking on the sidelines of South Africa’s bilateral talks with Nigeria, in that country, he said…

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06
Dec

DMRE: ‘petrol price increase was wrong’

While the petrol price still went up yesterday, it was by 75c per litre, and not 81c as the department of mineral resources and energy (DMRE) incorrectly stated this week. “The six cents difference is due to the fact that the adjustment of wages for service station workers had already been implemented in September 2021,” the department said in a statement yesterday morning. “Although it is for the very first…

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06
Dec

Rising fuel prices heighten SA inflation, growth risks

Inflationary pressures are ramping up in South Africa following a series of fuel price increases. The Department of Mineral Resources and Energy on Wednesday announced the ninth monthly jump in the regulated gasoline price this year, taking the total increase for 2021 to 40%. The country imports most of its fuel, which accounts for almost 5% of the inflation basket. Annual consumer-price growth was 5% in October, unchanged from the…

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06
Dec

Government got the fuel price wrong – and its explanation doesn’t quite add up

The department of mineral resources and energy on Wednesday revised the official petrol price downwards by 6c. It said it had made a mistake in the margin paid to retailers, incorrectly factoring in a wage increase for service staff. But its documents show that accounted for only 5.7c of the mistake. The rest came from a quiet adjustment to the basic fuel price, the objective, audited number that makes up…

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06
Dec

Petrol price increase was wrong, energy dept admits

While the petrol price still went up on Wednesday, it was by 75c per litre, and not 81c as the department of mineral resources and energy (DMRE) incorrectly stated this week. "The 6 cents difference is due to the fact that the adjustment of wages for service station workers had already been implemented in September 2021," the department said in a statement on Wednesday morning. "Although it is for the…

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06
Dec

Petrol is now R20.29 per litre in Gauteng – and 31% of that goes to taxes

The price of petrol – for 95-octane in Gauteng – is increasing by 75c per litre to R20.29 for December. 31% of that goes to various taxes, mostly the general fuel levy and funding for the Road Accident Fund. The actual basic fuel price, without those taxes, the cost of distribution, and margins for retailers and wholesalers, is R9.74. Here is what goes into the fuel price for December 2021. For…

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30
Nov

Big fuel price hikes announced for Wednesday

The petrol price will be hiked by 81c a litre on Wednesday, while diesel will go up by between 72.5c a litre (0.05% sulphur) and 74.5c (0.005% sulphur), the department of mineral resources and energy announced. The latest price hike will push the price of petrol - currently around R19.50 a litre - to above R20 in Gauteng and other inland provinces. At the start of November, petrol prices were…

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