The entire country was eager to cross over to 2021, after the hardships of 2020. By the look of things, it seems there is nothing good for the country in 2021. The cost of living has increased sharply and many people have lost their jobs, as the economy is hit by the second wave of Covid-19 pandemic. The department of Minerals and Energy has also announced that, as of Wednesday the 6th of January, motorists and transport industry across the country will be hit hard, when fuel prices increase by more than 40
Johannesburg – For the first time in history, South African petrol prices will exceed R20 per litre on Wednesday, December 1. Fuel prices are rising at an unprecedented rate for a variety of reasons, but the main culprits are high international oil prices, a weak rand, and high taxes.
What it costs to drive South Africa's most popular vehicles – and things are about to get a lot more expensive The Automobile Association (AA) of South Africa has warned of a 'catastrophic' increase in petrol prices in November, citing Central Energy Fund mid-month data (CEF).
Image: Google The price of Brent crude oil has gone down globally as most countries have lockdowns as they respond to the global pandemic, Coronavirus. Currently the price of Brent crude oil is below R570, 12 per barrel and this means the petrol price will further decrease as of May, Investec chief economist Annabel Bishop reported. The petrol price may be anticipated to decrease by R2 per litre, Bishop added. Since the beginning of April, the petrol price had been decreased below R2 by the Department of En
The price of illuminating paraffin increases by R.1.45 a litre as of Wednesday, 04 November. The Mineral Resources and Energy Department says the increases result from local and international factors. One is that the price of Brent Crude oil reached its highest level since October 2018. @tdyani took to Twitter to compare today’s petrol prices to 2015 petrol prices.
As a result of higher oil costs and a weaker local currency against the dollar over the last month, motorists will witness yet another significant hike in fuel prices in August. August also brings a new charge, according to the Department of Mineral Resources and Energy. "At the end of June 2021, the cumulative petrol and diesel slate balances amounted to a negative balance of R535,1 million," it said.
South African motorists can expect an increase of close to R1,00 per litre for fuel in June. Preliminary figures from the Central Energy Fund show that there was an under-recovery of 98 cents per liter of 95-octane petrol for the month of May. The under-recovery on 93-octane petrol is 90 cents. Owners of diesel vehicles however, could see a slight drop in the price of diesel. There was an over-recovery of 2 cents per liter of diesel. The biggest driver behind the possible increase in petrol prices is the in
The oil prices increases reduce the national output, change in the structure of spending and production, and shifts the economy to a lower economic growth path. The oil price shocks increase the total important bill largely because of the huge increase in the cost of oil and petroleum products.
South African motorists can expect a massive drop in fuel prices for the month of May, after international oil prices plunged to historic lows. According to the latest available data from South Africa's Central Energy Fund (CEF), there is an average over recovery of more than R1,73 per liter of 95 octane unleaded petrol. This means that the price of petrol is set to drop by next week Wednesday. The Department of Energy is expected to announce the fuel price adjustments for May over the coming weekend. The p
The Department of Mineral Resources and Energy, headed by Minister Gwede Mantashe made a welcome announcement on Sunday, 04 October 2020. During their monthly briefing on price adjustments, the department revealed that fuel prices would go down as of midnight on Wednesday, 07 October. The cause for the decrease according to the department's spokesperson is that there has been a decrease for all refined products made from petroleum in international prices. He also stated during the briefing that the average price
Johannesburg - Fuel costs are set to go up again in August, however fortunately the solid execution of the South African rand in the second 50% of the month has downplayed the increments, in any event on account of petroleum. Late month information discharged by the Central Energy Fund infers that petroleum costs are probably going to ascend by somewhere in the range of 6 and 11 pennies a liter if current patterns proceed for the following three days. Those driving diesels are not all that fortunate, notwithstanding,
South African customers previously feeling the touch of increments to power, water and food costs will this week be hit with another hit to their pockets as the cost of petroleum and diesel will likewise increment. The Department of Mineral Resources and Energy said the cost of petroleum will increment by 29 pennies a liter and diesel by 42 pennies a liter from Wednesday.
The department of energy announced that the price of petrol will go up as of Wednesday the 7th of July. Based on international factors which are that South Africa imports both crude oil and finished products at a price set at an international level. The fuel hike is said to be a result of to Crude oil prices, The average Brent Crude oil price went up by 11USD per barrel due to inventory decline.