Fin24

Minister: Big fuel price drop in June

2012-05-17 18:04

Parliament - There will be a "substantial decrease" in the price of fuel next month, Energy Minister Dipuo Peters said on Thursday.

Opening debate on her department's R6.8bn budget in the National Assembly, she told MPs this would be in time for the June holidays.

"We are currently witnessing a (downward) swing in the crude oil price and I'm please to announce that next month motorists will benefit from a substantial decrease in fuel prices in time for the June holiday driving season," Peters said, to loud applause from members.

She did not put a figure on the decrease.

Comments
  • Pieter Mulder - 2012-05-17 18:19

    Huge drop and then. We have been threw this. VIVA

      christelle.james.7 - 2012-05-17 19:38

      I see somebody has got the thumbs down sickness again:-)

  • siza.nala - 2012-05-17 18:24

    hope the fuel price drop in June will make a huge difference. As citizens we are really suffering.. The cost of living is high now..

      Slick - 2012-05-17 18:44

      hahah siza,,, so what you saying is "what you win on the horses, you loos on the round abouts" huh. Best dont get your hopes up fella! U obviously have NO financial knowledge and or how the increases work. It WILL go UP in July again, simple FACT

      christelle.james.7 - 2012-05-17 19:31

      Slick, there should not be another increase if the scenario stays the same over the next couple of weeks - UNLESS the government imposes more taxes, fees and levies - which they are quite capable of. Somebody still needs to pay for the e-tolling system!

      comurray - 2012-05-18 09:55

      The petrol price will drop, however taxi fares will either remain where they are now or increase because of some other excuse.

      Lerato - 2012-05-18 14:44

      @Comurray Taxi fares have not gone up in the past 3 years, its only now that they are going to go up. As much as i dont like the taxi industry and the fact that they dont pay for tax - they do consider they commuters.

  • sourcematrix - 2012-05-17 18:24

    As as Long as Food Retailers decrease food prices accordingly because usually they Don't and then they benefit from higher profit margins whilst we must suffer....

      fdlouw - 2012-05-17 19:09

      They don't because they know that next month it will only go up again. They save up a little now so they don't have to take such a big hit next time. Prices will always rise.

      robqb - 2012-05-18 22:23

      @sourcematrix. Please, do not hold your breath! Have they EVER? WILL they ever?

  • rickvcooper - 2012-05-17 18:27

    A "substantial decrease" in taxes, bills, or incompetance from anything to do with government will always be negligible in real terms. It is the increases of these things that will bring a tear to your eye.

  • Slick - 2012-05-17 18:27

    hahah what BS.... the currency exchange rate is the worst its been in a long time. Brent Crude is hovering around a $110 - 113 at present. What BS is this woman talking. There WILL more than likely be a "substantial" increase in July. So WHY NOT limited the increase in July by not dropping the price excessively in June?? Typical African Bush ideology!!! Dumber than Dum!! but then again this South Africa. Now watch them all blame Apartheid that never permitted education to NON whites, hence the dysfunctional country after 18 YEARS!!

      Slick - 2012-05-17 18:35

      So much for FORWARD purchasing which limits price increases. Like what is done in ALL 1st world Countries to offset Peaks and Troughs in prices and protects against currency fluctuations etc etc... Damn no wonder the RSA finds itself where it does and US citizens suffer the consequences continuously!!

      louis.langenhoven - 2012-05-17 18:37

      you make more sense than she does...

      NrGx - 2012-05-18 08:36

      because it takes a certain type of intellectual mentality to think further than today!

  • merushan - 2012-05-17 18:28

    Whoo hoo then in th following months it will sky rocket! 10 fold

  • ryvon30 - 2012-05-17 18:32

    about 50c per litre.....;-)

      Slick - 2012-05-17 18:38

      erm make that 74 - 81 cents increase in July, knowing the way this Goon Show operates...LOL

  • Ferdie Van Der Merwe - 2012-05-17 18:32

    Let's see if food prices will come down too

      IcemanGP - 2012-05-17 19:19

      You made a funny. Food prices come down? ... Never.

  • mikeangell61 - 2012-05-17 18:51

    What a joke????

  • Slick - 2012-05-17 18:53

    lees ek reg, Dit gaan reen

  • fdlouw - 2012-05-17 19:03

    Ja... For the past how many months: "The price of fuel will increase by 32c/L". Then in June, a reporter states with a HUGE smile on his face: "Motorists can heave a sigh of relief, the price of fuel will come DOWN! BY A WHOPPING 7 CENTS PER LITRE!!!" And in July? "From Wednesday, the price of fuel will increase by 32c/L".

  • Trevor - 2012-05-17 19:12

    hahahaha....a whole 5 cents....because they taking it out of circulation

  • Keith - 2012-05-17 19:18

    Strike season soon,big increase in August to cover the costs of salaries!!

  • angela.monaghansandells - 2012-05-17 19:46

    Unfortunately everything else that's gone up due to the fuel price increases won't come back down.

  • Lauden Kirk - 2012-05-17 22:02

    You can't adjust prices cause everything is to unstable. So we put out prices really hight to void the loss.

  • wekunetsavamwe - 2012-05-17 23:37

    What measures are you going to use to ensure that the price of fuel will definately decrease,enlighten us please

  • Thabo - 2012-05-18 00:43

    R5 sounds big enough!!!

  • Basie - 2012-05-18 04:18

    Rubbish,fuel costs $4.00 Us Gallon it gets down to R8.42 litre @R8/U$

  • Louis - 2012-05-18 06:08

    Probably followed by an even more substantial increase.

  • Dooie - 2012-05-18 06:20

    Probably a whopping 5c....

  • Titus - 2012-05-18 06:30

    The only drop we'll get is 3 to 5cents a liter and R3.00 to R6.00 increase in 6 months, if I can't spend R5.00 per liter of petrol then there's no drop.

  • nhla.prv - 2012-05-18 07:46

    Probably down by 8 cents ..very substantial decrease indeed !

  • swavka - 2012-05-18 07:59

    Huge drop in fuel price - now does that mean that foodstuff and other consumer goods will also drop in price? If they are talking huge - i hope they are talking R1 drop and not a measly 17c. That means Jack Sh*t in my books.

  • Rational100 - 2012-05-18 08:13

    Come July and Iran's supplies to the markets will be closer to zero whilst demand stays the same. Also, Greece will officially be out of the EU and there will be a speculative talk of EU monetary dis-integration leading to a weaker Rand as investors seek safer havens from the carnage hence shortage of supplies and capital flight will result in a higher price of crude in Rand terms. It could even be worse if Israel strikes Iran and the mid-east becomes collectively unstable.

  • Carolyn - 2012-05-18 09:57

    Are they decresing the petrol price so they can sneak the e-tolling back in??? Always an underhanded method to their madness

  • Moses - 2012-05-18 10:19

    I can't wait for this it's a pity taxis won't reduce their price

  • Antin - 2012-05-18 10:56

    O really? And what about the rand that's dropping through the floor? Is more than wiped out by the (smaller) drop in crude prices. Expect a minor decrease in June, and then a fat nice increase in July. Petrol price: two steps back, three forward, all the way.

  • Mahomed - 2012-05-18 11:17

    about time!!!

  • cruywagen - 2012-05-18 11:47

    Define BIG?

  • Rosalind - 2012-05-18 13:00

    Yeah!??? Will the there be a BIG food price drop then too? Supermarkets hide behind the curtain of "because of the fuel price" but our food prices are RIDICULOUSLY high despite fuel increases and decreases. Something has to give.......

  • Sithembiso - 2012-05-18 13:52

    Talk about a HUGE dip of 48 cents in June and a SLIGHT increase of 71 cents in July...... #Mncmm

  • gerrit.laubscher - 2012-05-18 14:11

    Sounds a bit like a political statement to me. The honarable Minister should rather look at the impact that the sustantial increases has on the economy. It normally leads to immediate increases in all other business sectors. These increases are not met with the "substansial" deceases. The economy needs long term stability in the prioce of fuel and it doesn't seem that the Government can get that right.

  • Freddy - 2012-05-18 16:24

    Even it were true, the price of basic commodities will not drop in general as "profits must be protected at all costs". The only thing one can hope for is specials as retailers sit with lots of gluts in products that are not selling. Take cheese for example. How many tons of cheese are being destroyed monthly due to the fact that the price is not comming down in relation to the petrol price and farmers have decided individually to pull out of the dairy industry because customers are not buying?

  • Michael - 2012-05-18 17:00

    And can you hear the food distributors rushing to drop their food prices?

      Freddy - 2012-05-18 17:55

      No. They are planning their next increase.

      dennis.crossman.9 - 2012-05-18 18:12

      Its called SA comedy show case

  • dennis.crossman.9 - 2012-05-18 18:10

    MMM guess they have enough money to bail SANRAIL out for a month or two. Wait till the next payment to the banks is due then the petrol price could equal that of the UK's petrol

  • gavin.j.keen - 2012-05-18 18:17

    we pay about R3 a gallon in Saudi.

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