Fin24

Brace for another petrol hike

2012-09-17 14:35

Cape Town - According to the latest statistics from the Central Energy Fund, consumers could be in for another shock with the petrol price rising again by 37 cents a litre, bringing it to just over R12/litre, TimesLive reported on Monday.

The price of 95 grade petrol will jump to R12.43/l in Gauteng, and R11.99/l at the coast.

The increase could also see diesel going up by 49c a litre to R11.44/l.

The reason for the hike is the weak rand and international crude oil prices.

Cash-strapped consumers were already hit by an 93c a litre hike only two weeks ago.

The increase not only affects commuters, but also impacts retailers and service providers who pass higher costs back to consumers.

Food inflation was 5.3% in July year-on-year, but a clearer picture will emerge when Statistics SA publishes its consumer price index for August because it will take account that month's fuel price increases, the report said.

Higher inflation makes it unlikely that the Reserve Bank's monetary policy committee will cut interest rates when it meets this week.

The energy department justified last month's hike on the need for service station operators to finance wage increases for service station pump attendants and cashiers agreed upon at the Motor Industry Bargaining Council in September 2010.


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Comments
  • larry.piggott1 - 2012-09-17 14:41

    This Government is doing its best, toscrew us into the ground.

      squeegee.pilot - 2012-09-17 14:54

      Malema's fault. Companies getting out and selling Rands has led to the currency loosing value, etc... Who wants to invest in Malemaland?

      ernst.j.joubert - 2012-09-17 15:26

      The motor industry is also at fault. When are car companies going to start offering consumers alternatives to petrol and diesel; like electric cars and plugin hybrids. This is the reason why there is so much inflation, because everything is linked to oil.

      roy.wadhams.1 - 2012-09-17 15:36

      Can we blame the government if the same problems are being experienced all over the world? If the commuter service wasn't that bad and dangerous,a person could use this but it is terrible and unsafe.

      Rational100 - 2012-09-17 16:37

      @Alicia ..u are paying for your governments obedience to apply sanctions on IranIan crude supplies as per the direct US directive which obviously leads to a supply constraint down the line!

      markmc83 - 2012-09-17 20:32

      True, but rather that than support them in build nuclear weapons of mass destruction.

      Rational100 - 2012-09-18 18:41

      @markmc83- Meanwhil Iranian crude oil sales have just gone up and our BRIC partners (Russia and China) are happily feeding themselves on Iranian crude!!! Truth be told..we have not seen any WMD in Iran and instead we know for sure that Israel has them.

  • marlon.roebeck - 2012-09-17 14:43

    When will this ever end!!!!!!!!!!

      roy.wadhams.1 - 2012-09-17 16:16

      Back to the stone age mate. We are all suffering,except those in government who ride everywhere for nothing. Can you imagine the elderly who must have a car but live off a fixed salary?

  • jacques.shepperson - 2012-09-17 14:43

    Yes, The clever people that wants a weak rand!!! The rand has no buying power!!! This will lead to inflation and then strikes, as workers cant cope!

  • matthew.swanepoel.9 - 2012-09-17 14:43

    WTF?

  • Sharmay - 2012-09-17 14:47

    So whose salary are we subsidizing now? Knew this was going to happen... :(

      sebenza.vanrooy - 2012-09-17 14:50

      You weight problem is gonna be sorted.

      hester.ferrezuelo - 2012-09-17 15:06

      i am sure ANC needs funding for Mangaung

  • brendan.vogt.1 - 2012-09-17 14:48

    "....last month's hike on the need for service station operators to finance wage increases for service station pump attendants..." This means it ain't coming down !!!!!!

  • charl.reaper - 2012-09-17 14:54

    So poor infrastructure, services and education giving rise to the current unrest that resulted in rand depreciating to 8.4 when they did the calculations... How is the solution to now go and hit the consumer and the poor for your mistakes. The result will be more unrest and more strikes. The focus should be on creating stabilization and giving the rand the strength it deserves. This would really not be a good idea given the current unrest we have. My suggestion is to focus on keeping reserves high as to not have these unwanted pressures on the people in times like these.

  • shani.dewitt - 2012-09-17 14:54

    Are they mad???? And when the rand strengthens and crude oil prices improve they don't drop the petrol price.. They keep it just as it is, and just keep on increasing the price!! I'm so sick n tired!!

      trevor.dean.10 - 2012-09-17 16:04

      Oh no, shani. You have a short memory. In June the price dropped 55c per litre followed by another 85c per litre in July, a total of R1.40 decrease. Please don't talk rubbish.

      trevor.dean.10 - 2012-09-17 16:58

      Thumbs down for FACTS? Scary.

      heinrich.etsebeth - 2012-09-18 06:39

      @Trev: If you look closely you will note that the Rand is actually where it was at the time when they brought the petrol price down with 85c and the Oil price currently at $113 this morning is actually looking better for us than it did at that time.

  • tatsee - 2012-09-17 14:55

    ...mayday-mayday,the country is crashing,do you read me?..

  • leonstoumann - 2012-09-17 15:03

    It's time for all to know how much the TAXES and LEVIES are !!!!! Can anyone give an accurate breakdown . \r\nThe ANC is milking us dry !!!!!

      rowan.maulson - 2012-09-17 15:13

      http://www.shell.com/home/content/zaf/products_services/on_the_road/fuels/petrolprice/ That should answer your question.. Wholesale price of petrol before taxes etc etc seems to be about R7.

  • christina.setloboko - 2012-09-17 15:04

    bring it on!!!

  • attie.gerber.1 - 2012-09-17 15:11

    they call this the biggest economy in africa and what joke. i visited ghana three weeks ago and the petrol price in that country is r 7-00 a litre. i visited kenya two months ago and their fuel price is also cheeper than our price the kenya shilling is 80-00 to one usd. our currency is 8.50 to the u s d this is how we get screwed

  • phumi.ntlabati - 2012-09-17 15:19

    Just like the progressive people of Nigeria did last year, when their government took away their fuel subsidy with out notice, we should all revolt! Long time ago Mr. Akerman told this government of Mandela of how they can reduce the price of fuel drastically, but his views where shotdown by the owners of white monopoly capital, their sponsored economists, and our reactionary leaders listend to them! There is no need to depend on the rand/dollar exchange, and also on manipulated statistics. We have many freinds who are willing to sell us cheap crude oil, like the revolutionary leader of Venezuel Chaves, and or José Eduardo dos Santos of Angolo! We have signed many accords with them, but we have yet to see the fruits of those bilateral trade-offs! We need new leadership that has a backbone and that will not bow down to the interst of the few fealthy rich pale elite males!

      konstabel.koekemoer - 2012-09-18 10:35

      @ Phumi, your statements are always utter nonsense. Neither Nigeria, Venezuela or Angola will supply oil to SA at below marked prices. Why should they? SA would not sell them cheap Gold or Platinum. Mr Ackerman wants free-marked petrol prices which also means that self-service stations would be allowed. Self-service may reduce prices but also mean tens of thousands of jobs would be lost. And I am not sure we would see any significant savings, in fact the fuel prices in remote rural areas would increase as they is little or no competition in those areas. The retail price of diesel is not regulated and many service stations already make higher margins on diesel than petrol.

  • melinda.botha.75 - 2012-09-17 15:20

    you just cost me my job can not afford it anymore you clowns

  • sandor.l.varga - 2012-09-17 15:30

    The ANC run government taxing us silly...

  • ludlowdj - 2012-09-17 15:42

    What happens when people park their cars and start using public transport? how will business deal with employees reporting at all hours of the day because as we know public transport is very unreliable? will the start threatening employees?

  • carolyn.dewrance - 2012-09-17 15:43

    So a lot of people are now going to starve, Thanks to the Government. Time now for everyone to say No it's enough and time for us to do something about the rape of everyone in this country of what little we have. Oh of course I am not counting the rich here, they dont mind paying the extra, We should fight for the man in the streets rights.

  • ian.d.samson - 2012-09-17 15:43

    See, someone has to pay for SANRAL's expenses ... looks like the entire country is fitting the bill, once again, for government ineptitude!

  • ludlowdj - 2012-09-17 15:44

    Oil prices are controlled by OPEC, the price of OIL has nothing to do with supply and demand and is artificially controlled.

      Rational100 - 2012-09-17 16:39

      Wait until Netanyahu strikes Iran sometime in October, then u will realize how cheap fuel used to be !

      gerrit.vanrooyen.37 - 2012-09-17 19:14

      OPEC control the supply they don't control the demand. The US Federal Reserve Bank and the striking platinum miners are to blame for this petrol hike. The new round of QE3 caused a surge in the oil price and the striking miners caused the rand to depreciate. Higher oil price + weaker currency = petrol hike.

      gerrit.vanrooyen.37 - 2012-09-17 19:16

      @Rational100 That will be a disaster!

      sarel.seemonster.925 - 2012-09-18 06:32

      "Oil prices are controlled by OPEC" True, but our exhange rate has a HUGE factor in what we ultimatly pay on the forecourt.

  • Daniel Mah - 2012-09-17 15:45

    this is unacceptable - something needs to be done

  • mphedziseni.munyai - 2012-09-17 15:46

    sorry i don`t mind coz i always walk to work everyday

      gerald.king.589 - 2012-09-17 16:22

      Those calories still cost you petrol -you walk, your body craves a refill, wehre do you get it ha? I doubt their trucks walk too? Now that pressure on inflation determines how rich you get from your salary - like imagine if grocery for a month was still R50, youd have so much left over your LIFE would be so different. Car fuel is just the tip of the iceberg my frnd.

  • catdarling - 2012-09-17 16:10

    This is just bloody brilliant!! Between these bloody price hikes and all the other taxes and price hikes of electricity, etc we are screwed!! This is just getting more and more ridiculous every few weeks. Where is this going to stop? These petrol price hike is creating a major problem as everything especially food is getting more expensive! How do families of three or more stay alive? Makes me think of never having children.

  • bbooyse - 2012-09-17 16:20

    These excuses are starting to remind me of Orwell's 1984...soon we'll be told the price is falling, when in fact we all could have sworn it was lower before the \\decrease\\..

  • mark.vanderheever - 2012-09-17 16:34

    NO THEY HAVE TO MAKE UP ON THE NEW TOLL ROADS ALL THE MONEY THEY HAVE LOST SO WELL SCREW YOU WHETHER YOU LIKE IT OR NOT!!!!!

  • btloti - 2012-09-17 17:03

    Its time we took this goverment to task. If u remove all the levies and taxes the actual petrol price is R7,25 a litre. They(zumaville) are making all of us pay for joburg mess. All ppl of all backgrounds my stand together against this non-sense.

  • maquia1 - 2012-09-17 17:20

    How do they expect people to survive if everything increases?

  • sean.kedian - 2012-09-17 17:30

    And we have a weak rand because we have an incompetent government who cannot control the workforce.

  • hsebolelo - 2012-09-17 17:54

    When you need an increase they send the soldiers,Nxa

  • brionyl.french - 2012-09-18 05:29

    How are people supposed to survive? Not alot of money around is there...

  • sarel.seemonster.925 - 2012-09-18 06:29

    Mainly due to Malema, the idiotic striking miners and their absurd demands.

  • ChrisGRoyle - 2012-09-18 07:02

    The article suggests that last month's rise was to pay for raises to attendants wages. It'd be nice to have self service petrol stations like Europe and pocket the increase. As if.

  • brendon.daniels.14 - 2012-09-18 11:30

    Wicked hw petrol seems 2 increase by da month... Mayb by the week, Or even by the day !! \r\n\r\n\Gota start thinkin bike ppl lmaO !!\

  • jacqui.daanevanrensburg - 2012-09-18 15:33

    Strange, In Europe prices were being dropped because crude oil became cheaper.

      Rational100 - 2012-09-18 18:45

      There is an excess supply of crude from Iran which is now available in the blackmarket cheaper for Europe...meanwhile we muppets in Africa are sanctioning Iran!

  • varena.vahuu - 2012-09-18 18:25

    This democracy thing is always coming with packages. At times I feel its better to remain in the past era.

  • tshepo.ally - 2012-09-19 00:05

    Are they efing serious?!!!!!!

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