Related Articles
Top Stories
May 24 2012 17:31
The Reserve Bank will maintain current interest rates, and a sizeable reduction in the local petrol price is expected, says governor Gill Marcus.
May 24 2012 15:29
The Reserve Bank will maintain current interest rates, says governor Gill Marcus.
May 23 2012 22:00
Economic liberation or the lack thereof is the most divisive issue in the country, according to a survey.
Cape Town - Owners of petrol stations in some instances suffered losses of between R50 000 and R60 000 as a result of last month's price cuts, reports Peter Noke, director of the SA Petroleum Retailers' Association.
He explained that petrol station owners caught with large stocks on hand have had no choice but to sell at a loss.
Certain petrol stations take the risk of running out of fuel because they postpone orders to limit losses.
When fuel prices rise sharply, retailers are also negatively affected because higher prices lead to lower sales and consequently reduced profits.
Some dealers have experienced serious cash-flow pressure since last year and may be obliged to sell their petrol stations.
According to Noke, not one of the 1 000 petrol station owners who are members of his association has shut down. Oil companies generally get a new owner for the relevant premises in time.
- For more business news in Afrikaans, go to Sake24.com.