Load shedding is crippling economic activity, which will negatively impact tax revenue collections, economists warn. Consumers are already distressed in the current economy, and there is no room for tax hikes, says a tax expert. Sin taxes on alcohol and tobacco products, as well as fuel levies, are expected to increase, according to an economist. For more financial news, go to the News24 Business front page. The current economic environment does not bode…

Tomato sauce, Coca-Cola and fuel pills are fuel-saving hacks you should avoid. Simple driving behaviour changes could help reduce your fuel bills. We take a look at what works, and what you should avoid. Fuel prices dropped significantly last month, and South Africans could not have been happier. But deep down, we knew it was going to be short-lived. The Automobile Association of South Africa reported that the first fuel…

Activists from environmental group Greenpeace on Tuesday boarded a vessel contracted to Shell as it sailed in the Atlantic Ocean, demanding that the Anglo-Dutch oil giant "stop drilling and start paying". Four Greenpeace International activists from Argentina, Turkey, the UK and the US boarded the White Marlin vessel just north of the Canary Islands, said the group. The vessel is taking an oil and gas platform to the Penguins field,…

Petrol and diesel prices will be hiked on Wednesday, with oil having become more expensive due to stronger Chinese demand. Unleaded petrol (both 93 and 95) will increase by 28c a litre, while diesel will be hiked by between less than a cent and around 9c a litre. Paraffin will increase by 58c a litre, and the maximum retail price of LP gas will fall by R1.40 a kilogram. The…

Petrol and diesel prices look set to be hiked in the first week of February. The latest data from the Central Energy Fund (CEF) shows an expected increase of around 52 cents a litre for 95 unleaded petrol and 57c/l for 93 petrol. The diesel price could climb by between 22c/l and 33c/l, while the price of illuminating paraffin could increase by around 38c/l. The fuel prices are usually adjusted…

The latest data is showing an increase of around 52 cents a litre for 95 ULP petrol and an increase of around 57c/l for ULP93 petrol and increases of between 22c/l and 33c/l for diesel. The price of illuminating paraffin will climb by around 38c/l. “The data is showing that price increases to international petroleum products are the main driver behind this expected increase to local fuel prices, while the…

Russia's war in Ukraine is hitting Africans particularly hard by exacerbating food insecurity and putting an unnecessary drag on the continent's economy, U.S. Treasury Secretary Janet Yellen said in Senegal's capital Dakar on Friday. Yellen said ending the war would be the best thing to help the global economy, but the Treasury estimated that a Group of Seven-led price cap on Russian crude oil and refined products to limit Russia's…

Eskom is peering into an abyss. Its second batch of diesel is expected to run out at the end of January 2023, write Mariam Isa and Chris Yelland of EE Business Intelligence. For more financial news, go to the News24 Business front page. Eskom is living hand-to-mouth in its efforts to obtain the diesel needed to continue running its open-cycle gas turbines (OCGTs), which, in the face of prolonged power generation outages, is the only…

For more financial news, go to the News24 Business front page. PetroSA is seeking partners to assist in the refurbishment and restart of its gas-to-liquids (GTL) refinery in Mossel Bay, with an aim to have full production back up and running as soon as possible. Having operated for almost 30 years, production of petrol, diesel, and other value-added products from the refinery was suspended in 2020 due to offshore gas and condensate feedstocks running…

For more financial news, go to the News24 Business front page. After a steep fall in January, petrol and diesel prices are currently on track for more cuts in February, the latest information from the Central Energy Fund shows. However, recent strong gains in the oil price and a weaker rand may put price cuts at risk. The fuel prices are usually adjusted on the first Wednesday of a month and determined by…