• Growing people

    What is the most powerful way to develop the capabilities of people at work? Ian Mann answers.

  • Wealth and poverty

    True riches would be to create a safe and satisfied community for all South Africans.

  • SABC shenanigans

    SA has already embarked on a slippery slope to autocracy, warns Terry Bell in Inside Labour.

All data is delayed
Loading...
See More

Petrol price set to rise in February

Jan 18 2013 13:20
I-Net Bridge
Johannesburg – The department of minerals and energy is likely to implement a retail petrol price increase of about 24 cents per litre (c/l) on February 6‚ provided the daily under-recovery remains near the January 17 level.

The wholesale diesel (0.05% sulphur) price could jump by about 26c/l.

SA’s daily unleaded 95 Octane petrol price under-recovery was 30.8c/l on January 17‚ while the diesel under-recovery was 33.6c/l.

An under-recovery means that the basic petrol price based on the daily product price and exchange rate is more than the basic fuel price used in the calculation of the monthly retail petrol price.

An under-recovery therefore implies that the retail petrol price will most probably be increased at the next monthly price adjustment‚ provided the government does not introduce a new levy or raise either the wholesale or retail margin.

The retail petrol price is adjusted monthly on the first Wednesday of the month in accordance with the previous averaging period's over- or under-recovery.

The current averaging period runs from December 27 to January 31 and a price announcement is due on February 1. The average under-recovery for the period December 27 to January 17 for petrol was 19.1c/l and the average under-recovery for diesel was 21.7c/l.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

petrol price  |  economy

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
44 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE SAVINGS ISSUE

Saving can make a lot of things possible, but we all know how hard it is to save. This special Savings Issue will help you get focused.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Have you experienced FNB’s outage problem?

Previous results · Suggest a vote

Loading...