Fuel prices recently reached all-time highs in most countries around the world. South Africa is no exception, with the prices breaking through the R20 a litre mark in December last year. But that's still half the price of what you'll pay in Hong Kong. Despite recent increases, South Africa's petrol price is close to the global average. But fuel in neighbouring countries is, on the whole, a lot cheaper. Here's…

The price of petrol – for 95-octane in Gauteng – has decreased by 68c per litre to R19.61 for January. 32% 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 R9.04. Here is what goes into the fuel price for January 2022. For…

A call for the end of oil has been thrust into the spotlight this year. Fossil fuels - which still represent 80 percent of energy consumed - have been explicitly blamed for driving climate change. The International Energy Agency believes that oil demand is still set to rise. The climate crisis has put the end of oil onto the agenda, but achieving that is a colossal task given the world…

The cost of petrol breaches R20 per litre for the first time in South Africa in December. Gas-guzzling cars will become less sought after in the coming year. We've selected a variety of fuel-efficient models to consider downsizing. For motoring news, go to Wheels24 The Automobile Association of South Africa (AASA) confirmed that the cost of petrol would puncture the ceiling this December as a single litre of unleaded 95-octane petrol…

Recognising the key role that digitisation is playing in the financial lives of more and more of its customers, South Africa’s leading fuel and convenience retailer Engen is prioritising electronic payment solutions at the core of its customer offering. With over 3.4 billion litres of fuel pumped from Engen forecourts in 2020, or approximately 25% of the local market, and some 327 million retail customer transactions honoured in that time,…

Communities opposed to the blasting have accused Shell of failing to conduct meaningful consultation. The Minister of Mineral Resources and Energy, Gwede Mantashe, has been lambasted for supporting Shell. Shell argues that the impact of the seismic survey on marine life is speculative. The High Court in Makhanda has reserved judgment in the application for an urgent interdict against the seismic survey conducted by Shell off the Wild Coast. The…

Fuel supply hiccups have characterised Zambia’s fuel price increase on Friday as the southern African country kick-started austerity measures under a $1.4 billion IMF supported economic reform programme. It was also expected that the fuel price increase would result in manufacturers passing on the development to consumers in the form of price increases for foodstuffs in the margin of up to 15%. This would likely result in inflation creeping up.…

A coal supply shortage at Secunda is expected to impact earnings by between R3 billion and R5 billion. The shortage has resulted from a series of unfortunate events, ranging from safety incidents to poor weather.  Sasol insists the problems at Secunda are not a result of spending cuts.  Coal supply shortages affecting Sasol’s Secunda plant will wipe up to R5 billion off the group’s earnings in the current financial year,…

South African consumer confidence was largely flat in the fourth quarter as record-high fuel prices, a resumption of rolling blackouts, protests and supply-chain disruptions kept sentiment muted. A quarterly index measuring sentiment rose to -9 in the three months through December from -10 in the previous quarter, FirstRand Ltd.’s First National Bank said in an emailed statement Tuesday. While the level, last seen in the first quarter, matches the reading…

Oil headed for its biggest weekly gain in more than three months after the deepest fears over the new virus strain receded, though traders remained on edge over the demand outlook. West Texas Intermediate futures have climbed 7.4% this week, as fuel consumption has so far escaped a major blow from the omicron variant. Yet the mood remained fragile after a sell-off on Thursday amid rising infections and renewed restrictions by…