The AA forecast a decrease in the price of fuel and diesel. • Illuminating paraffin will see an increase. • The rand/US dollar exchange rate played a part in the decrease. • For more motoring stories, go to www.Wheels24.co.za Petrol and diesel prices are likely to fall at month-end, with a small increase predicted for illuminating paraffin. This is according to the Automobile Association, which was commenting on unaudited mid-month fuel price data released…

The explosion happened at a depot in the district of Baruwa-Ipaja. Five people have been killed and three others injured. Over 40 houses, 89 shops and many vehicles were also burnt during the explosion. A gas-laden truck exploded and caught fire early Thursday in Nigeria's commercial capital Lagos, leaving five dead and three others seriously injured and destroying dozens of homes and shops, the emergency services said. The incident -…

Aramco doubles down on oil to outlast rivals The slump in demand for crude during the coronavirus pandemic has forced oil companies to contemplate the possibility that the fossil fuel market has peaked and the time for a global energy transition has come. But as Francis Maguire reports Saudi Ar SOURCE: https://www.news24.com/fin24/markets/commodities/watch-aramco-doubles-down-on-oil-to-outlast-rivals-20201007

Oil rose from a three-week low after a member of Donald Trump’s medical team said the US President could leave the hospital as soon as Monday, despite contradictory accounts about his health status. Futures advanced 1.6% in New York after the biggest weekly drop since June amid a broader relief rally in Asian stocks. Trump’s condition remained clouded by confusion, with the president making a surprise outing from the medical center in…

Municipal fuel attendant ripped off Msunduzi Fuel was recorded being put into out of service vehicles Not the first time employees have stolen fuel from municipality Thousands of litres of petrol and diesel, amounting to more than R1,4 million, were allegedly stolen from Msunduzi with the help of a fuel attendant at the Doull Road depot. This was revealed in a confidential forensic investigation report on alleged fraud and theft…

Fuel price cuts from Wednesday From Wednesday morning, 93 petrol will be 23 c/l lower, while 95 petrol will decrease by 32c/l. Diesel will be lowered with some 90c. This is thanks to a stronger rand last month, and a falling oil price. The Brent crude oil price fell from an average of $44.78 per barrel in August to $40.82 in September, while the average rand level was R17.28 in…

South African motorists can expect a fuel price decrease from Tuesday, following the department of mineral resources and energy’s Sunday announcement on the monthly price adjustments for October. According to the department, 93 ULP and LRP petrol will fall by 23 c/l, while 95 ULP and LRP will decrease by 32 c/l. The price adjustments are: Petrol (both 93 ULP and LRP): 23.00 c/l decrease; Petrol (both 95 ULP and LRP):…

The Central Energy Fund (CEF) is seeking to overturn the sale of 10.3 million barrels of the country's strategic crude oil reserves in 2015.  The sale occurred during the tenure of former mineral resources minister, Tina Joemat-Pettersson, who said it was sold as part of "stock rotation".  News24 look's at what led to the sale and on what grounds the CEF wants it to be overturned. South Africa's Central Energy…

Fuel prices will see a decrease in October. • Diesel prices will drop by around 93 cents. • The AA warns motorists to be weary given uncertain economic climate • For more motoring stories, go to www.Wheels24.co.za Not even a steep bounce in both the Rand/US dollar exchange rate and international oil prices could take the shine off the good news, which is that all grades of fuel will be cheaper in October. This…

South African motorists can expect muted fuel price changes in September, with new data from the Central Energy fund showing that there will likely be modest relief for embattled consumers. Commenting on the price, the Automobile Association (AA) said that 95 octane petrol is expected to drop by around four cents a litre, with diesel down by 19 cents, and illuminating paraffin by 24 cents. The only fuel type set for an…