Industry News

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07
Aug

Win fuel for a year

Get the app that saves you money every time you fill up at your nearest station that supports Mighty Mobile Adjusting to lockdown living? Many of us are dreaming about all the places we’ll go and things we’ll do when social distancing is nothing but a distant memory. Now there’s a way to help you save on petrol so you can explore even more – and gain points. Save money…

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07
Aug

Oil giant BP swings to a R300 billion loss and slashes its dividend for the first time in a decade as coronavirus turns the energy sector upside down

Energy giant BP reported a loss of $16.8 billion (R295 billion) for the second quarter as it continues to battle the coronavirus pandemic's existential threat to the oil industry. The UK-based company's overall loss included a $10.9 billion impairment charge related to the pandemic. BP cut its dividend by 50% to 5.25 cents from 10.5 cents, the first time since its 2010 Deepwater Horizon incident - the largest marine oil spill in history.…

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04
Aug

WATCH | About 15 armed men rob Mpumalanga petrol station using high-calibre weapons

A group of about 15 heavily armed men robbed a petrol station in Kabokweni, Mpumalanga, of an unconfirmed amount of cash on Monday. They fled the scene on foot.  There has been a spate of similar incidents in the province during the last week.  The police arrested two suspects linked to the SA National Defense Force (SANDF) in connection with these crimes. They appeared in the Middelburg Magistrate's Court on Wednesday. …

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31
Jul

SEE | Here’s how much fuel you can purchase with the average South African salary in 2020

The average South African in 2020's first half was R19 269. • One can purchase 1345L of fuel with that money. • The price of petrol dropped by 4.1% compared to January - June 2019. • For more motoring stories, go to www.Wheels24.co.za Did you know that between January and June 2020, the average South African income was R19 269? And for motorists, that income must cover the additional expense of fuel. But have…

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30
Jul

Truck petrol bombed as protests flare up again in Cape Town

A truck was petrol bombed as protesters took to the streets for the second day in Happy Valley near Blackheath. A case of public violence was opened and the incident is being investigated. The R300 was closed in both directions between Van Riebeek and Hindle Way for a while, due to the protests. A truck was petrol bombed on Tuesday when protesters took to the streets for the second day in Happy Valley near Blackheath,…

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29
Jul

Fuel prices set to increase in August despite strengthening rand, says AA

The Automobile Association says fuel prices are set to increase in August despite the strengthening rand. The association was commenting on unaudited month-end fuel price data released by the Central Energy Fund. "As matters currently stand, petrol is likely to increase by between nine and 16 cents a litre, diesel by up to 48 cents, and illuminating paraffin by 43 cents," it said. The AA said that, while oil traded…

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27
Jul

Kaap Agri still keen on fuel and retail despite lockdown pains

Kaap Agri has ploughed millions into growing its retail fuel business and attached restaurants and convenience stores. But with travel restrictions in place, people are filling up their cars less and using forecourt outlets less. Kaap Agri CEO, Sean Walsh says the company can fix its costs to deal with these short-term pressures but it is still going to make further investments to grow The Fuel Company in the medium-term. In…

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23
Jul

Suspects arrested for allegedly defrauding Sasol to the tune of R279 million

Four men have appeared in court for allegedly defrauding Sasol of R279 million in 2011. This was allegedly done by bribing an FNB bank manager to issue unauthorised bank guarantees. More suspects are expected to appear in court soon. Four people, including two companies, appeared briefly in the Johannesburg Magistrate's Court on charges of racketeering, corruption and fraud that allegedly bagged them a cool R279 million from Sasol using invalid…

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22
Jul

Another fuel price increase set for month end as the oil market rebounds

We've seen dramatic fuel price decreases a few months ago, however, the oil market has been on the rebound resulting in price hikes during the last couple of months. Oil's recent price advances slowed in the first half of July, putting a ceiling on potential fuel price increases as the Rand traded mostly flat against the US dollar. This is according to the Automobile Association (AA), which was commenting on…

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17
Jul

More petrol pain may be coming next month — but fuel should still be cheaper than pre-lockdown

According to current estimates, petrol and diesel prices will again be increased next month. This is despite a recovery in the rand. There are still two weeks to go before local fuel prices are set for August.  For more articles, go to www.BusinessInsider.co.za. Early indications are that petrol prices may be hiked – again – in August. The Gauteng petrol price (95) fell from R16.16/litre at the start of the year…

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