Some fuel stations in Durban already ran dry on Thursday due to interruptions in supply caused in the aftermath of flooding in KwaZulu-Natal. eThekwini municipality spokesperson, Msawakhe Mayisela confirmed on Friday afternoon that a number of fuel stations have run dry and more might end up in the same situation as demand is expected to pick up. "We are told the supply will likely be restored in about two days,"…

President Putin told Russian officials that the country will seek new markets for its oil and gas.  Some customers have stopped or slowed energy imports from Russia since the Ukraine war began. Since invading Ukraine, Russia has redirected much of its oil exports to Asia. For more stories go to www.BusinessInsider.co.za. Russia is on the lookout for new energy customers domestically and abroad as some markets have rejected its cargoes since…

Sasol will no longer consider gas supply from a planned pipeline stretching from fields in northern Mozambique to its South African operations because it doesn’t want to get stuck with the infrastructure as the world shifts away from fossil fuels, CEO Fleetwood Grobler said. The company, South Africa’s biggest fuel producer, in 2020 said it would potentially buy a small stake in the proposed 2 600km African Renaissance Pipeline -…

Shell warned on Thursday that it would take a hit of up to $5 billion (around R73 billion) on its exit from Russia. It previously said it would sell its stakes in all joint ventures with Russian state energy giant Gazprom after the Kremlin launched its assault on Ukraine. The company had also apologised for buying a cargo of Russian oil at a vast discount, adding that it should not…

Twitter has been buzzing after a video of a man sitting in a shopping trolley holding onto the back of a fuel tanker on the freeway was shared on the social media platform. In the video, taken by people in vehicles behind the tanker, the man is seen sitting in a trolley holding onto a fuel tanker that is moving at a high speed in the rain on the N1…

Oil is rising again as the US and Europe prepared to impose more sanctions on Russia  Oil rallied to the highest level since 2008 in the first quarter as Russia’s invasion of Ukraine disrupted supplies in an already tight market With the war in its second month, Russia is facing allegations that its troops massacred civilians in Bucha and other towns, Oil rose as the U.S. and Europe prepared to…

Fuel hikes will be implemented across the board from Wednesday, but they would have been much worse if the fuel levy was not lowered, according to the Department of Mineral Resources and Energy. Mineral Resources and Energy Minister Gwede Mantashe announced the adjustment to fuel prices on Monday. The hikes, which kick in on Wednesday, 6 April, are as follows: Petrol - (both 93 ULP and LRP) - up 28…

Oil prices have fallen to levels that don’t fully reflect the risk of disruptions to Russian exports or the ability of China to keep the coronavirus pandemic under control, according to the world’s biggest independent crude trader. While Brent surged to almost $140 (about R2000) a barrel soon after Russia’s attack on Ukraine in late February, it sunk 13% last week to around $104. That was due to the US…

US President Joe Biden will announce Thursday a record release from US strategic oil reserves in an attempt to curb a politically damaging surge in domestic fuel prices following Russia's attack on Ukraine, the White House said. The measure will dump a million barrels of US government oil a day for six months onto the overheated global market in hopes of dampening inflationary shockwaves ripping through the American economy. "The…

With the fuel price in South Africa hovering at an all-time high, most car owners and drivers are open to any suggestions on how to get a little bit more from their tank. While motorists may get some relief from these record high fuel prices, it is always worthwhile driving as fuel efficiently as possible. Here are five tips to make your tank go further and stay ahead of the…