Africa Wild

Looming SA fuel hike: Here's a look at global petrol prices
2018-05-17 07:13



South African petrol and diesel prices are set for another increase at the end of May. The highest grade of inland fuel has risen from R13.76 to R14.97 in just three months.

As global crude oil prices reach four-year record levels of nearly $80 per barrel, uncomfortable increases in fuel pricing appear inevitable.

Of course the larger your fuel bill becomes, it means you have to make amends in your budget elsewhere as everything else gets affected when fuel costs rise, especially food prices.

https://www.wheels24.co.za/Fuel_Focus/l ... s-20180517

Yet another fuel hike expected for November
“The country cannot continue to be hammered by large fuel price hikes without severe economic knock-on effects.”
1 day ago

Further substantial fuel price hikes are lined up for the end of October, but it does however seem like there’s light at the end of the tunnel.

The hike is based on the unaudited mid-month fuel price data released by the Central Energy Fund.

International oil prices remain stubbornly high and it is possible that current tensions involving Saudi Arabia, one of the world’s biggest oil producers, could place more pressure on fuel prices. More welcome news is that the Rand is working in South African’s favour, and the recent firming of our currency against the US dollar has taken some of the bite out of oil’s rally.

However, the potential price hikes are still daunting, especially for diesel users.

Petrol prices are currently set for a 40 cents-a-litre increase, while diesel and illuminating paraffin could spike by 70 cents and 65 cents respectively.

The predicted increase to the price of petrol must, for the moment, be seen against the backdrop of the Department of Energy’s (DoE) proposal to set a maximum price for the sale of 93 octane ULP and LRP fuels. Should this happen, it will allow fuel retailers to set their own prices below the maximum amount indicated by the government, and may, depending on the margins, ease the burden on users of the two identified fuels.

“It must be stressed, however, that we did not participate in the drafting of the proposal, so details on its possible implementation remain unclear to us,” the automotive association said in a statement.

“We do, however, welcome government’s efforts on the issue of rising fuel prices, and that the Department of Energy has requested input from industry stakeholders. It says the proposal looks to be consumer-friendly, and that the detail will clarify how this will work once all the feedback is received. The country cannot continue to be hammered by large fuel price hikes without severe economic knock-on effects.”

The effect on bus and taxi operations could lead to fare hikes which exceed commuters’ ability to pay. We again call on the government to prioritise economic policies which inspire investor confidence. A stronger and more stable Rand is the country’s only defence against the vagaries of the international oil price.”

https://lowvelder.co.za/455160/yet-anot ... -november/

The diesel price is the biggest economy-killer.

We were paying R5 a liter for diesel in Angola in May.

There is quite a difference compared to neighbouring countries, apart from Zimbabwe

The difference is all tax

Rejoice! A huge petrol relief on the cards for December
According to the latest data published by the Central Energy Fund (CEF), the petrol price is set to decrease significantly in December following a slight relief this month. Here are the expected petrol prices for next month.
15 hours ago

The price of fuel in South Africa has been a bone of contention for the past year after increasing consecutively for eight months with a slight relief In August and November 2018. According to the latest Automobile Association and The Central Energy Fund (CEF)’s unaudited month-end fuel price data, motorists can expect a huge relief in December due to an accelerating decline in international oil prices.

The accelerating oil prices have trended downwards since the beginning of this month and are helped along by a modest improvement in the Rand/US dollar exchange rate.

According to the AA, the current data predicts a massive drop of R1.54 per litre for 95 octanes, R1.51 for 93 octanes with diesel dropping by 92 cents and illuminating paraffin by 85 cents.
Website

They warn that the final figure might be impacted by the Department of Energy’s recent re-introduction of the use of the Slate Levy to manage price changes. “Fuel users should also bear in mind that recent oil production cuts by Saudi Arabia could result in oil supply restrictions as we move into 2019, pushing prices higher,” said the AA.

So while there is a reason to look forward to relief this coming holiday month, motorists shouldn’t celebrate just yet. In November, petrol prices recovered by 22 cents but this was absorbed by the State Levy to balance the country’s slate account.

In July, President Cyril Ramaphosa set up an inter-ministerial committee to investigate possible interventions by the state to lessen the impact of rising fuel prices. This resulted in the recent State Levy to manage the price changes. The Department of Energy will announce official changes at the end of the month.
Here are the predicted petrol prices for December 2018:


https://lowvelder.co.za/459564/rejoice- ... -december/

At the beginning of November they said prices would go up in December, so some good news for a change!

I won't get excited just yet, the fuel price was supposed to go down by a lot more than it did this month, let's see what happens and then get excited, I don't trust this government........

The oil price has gone down a lot!