Government is lowering the general fuel levy by R1.50 a litre from next week to the end of May. Some of the state's strategic oil reserves will be sold to fund this tax hit, which means it won't have any impact on government debt. From June, other measures will be introduced - including a price cap on 93 octane petrol, which means retailers can sell below the regulated prices. The general…

According to the latest data from the Central Energy Fund, petrol and diesel prices currently look set for large increases on Wednesday next week – but not as big as previously expected. Based on the current data, 95 octane petrol is set to increase by R1.84/litre, 93 octane is expected to climb by R1.76/l, diesel by between R2.98/l and R3.14/l and illuminating paraffin by R2.51/l. The expected petrol price hikes…

Sri Lanka’s government extended the duration of daily electricity outages to 10 hours, refiners advised citizens not to queue at fuel stations as diesel runs out, and state-run hospitals don’t have enough life-saving medicines as the nation’s foreign-currency shortage spirals into a worsening humanitarian crisis. "This is a sad day," Morning newspaper cited Janaka Ratnayake, chairman of the Public Utilities Commission of Sri Lanka, as telling reporters in Colombo Tuesday…

The Portfolio Committee on Mineral Resources and Energy proposed that a tax holiday on fuel products be considered. Finance minister Enoch Godongwana hinted at "immediate steps" to alleviate pressure on South Africans amid the fuel price hikes. The Automobile Association expects record hikes in the price of fuel products in April. Parliament's Portfolio Committee on Mineral Resources and Energy has proposed that Mineral Resources and Energy Minister Gwede Mantashe and…

Brazilian President Jair Bolsonaro decided on Monday to change the president of state-owned Petrobras, Joaquim Silva e Luna, amid strong pressure due to recurrent increases in fuel prices. The information, leaked by the Brazilian press, was confirmed in the evening by the Ministry of Mines and Energy, which proposed economist Adriano Pires, a specialist in the oil and gas field, as the candidate to replace him. The appointment must be…

Two foreign nationals will appear in court on Monday for attempting to hijack a truck.  The two were part of a gang that attacked a fuel tanker. The tanker was travelling on the N5, near Harrismith, coming from Durban and on the way to Bloemfontein. Free State police arrested two foreign nationals for attempting to hijack a fuel tanker on the N5, outside Paul Roux, at midnight on Thursday. The…

The petrol price could hit R24 in April, and where it goes from there is in part up to Russia and Nato. The record-high prices are making it pretty expensive to drive between South Africa's cities.  A one-way trip from Johannesburg to Durban will cost the average motorist R1,000. Go to Cape Town, and the price hits R2,400. For more stories go to www.BusinessInsider.co.za. In April, one litre of petrol bought inland…

A North West police officer and a petrol attendant were arrested for allegedly misusing state funds. The two allegedly colluded by using petrol cards to defraud the state of R16 000. They have since been charged with 14 counts of fraud and defeating the ends of justice. A North West police officer and a petrol attendant are facing charges of fraud amounting to R16 000 and defeating the ends of justice…

There are fears that the already record-high petrol price could reach R40/litre. Checkers’ Sixty60 is using the high petrol price angle in its sales categories. The app has previously referenced Netflix’s “Tinder Swindler” and load shedding in a similar fashion. For more stories go to www.BusinessInsider.co.za. The marketing people at supermarket chain Checkers' Sixty60 online delivery service are not ones to miss a beat. They tapped into the hype of Netflix’s…

Fuel prices are at a record high, with a R2 increase expected for April. Finance Minister Enoch Godongwana says the economy needs short- and long-term measures. An announcement is to be made in next few weeks. Finance Minister Enoch Godongwana says government hopes to cushion consumers from the spiking oil price, at least temporarily, for the months of April and May. "I can’t reveal the details at this stage. We…