Drop in petrol price only a slight relief: Economist:Friday 28 August 2015. The drop in petrol prices comes at a time when consumers are facing increasing food and electricity prices as well as interest rate hikes.
(Richard Brooks) Economists say a significant drop in the price of fuel will not bring significant relief to indebted South Africans. Some reprieve for motorists as petrol price to go down:Friday 28 August 2015. Huge petrol price drop expected despite rand spoiler:Friday 28 August 2015. Diesel will be lower, by 50 to 53 cents.
(SABC) The petrol price could drop by between 71 and 77 cents a litre next week, but the decrease could have been an additional 25c/litre had the rand remained stable, the Automobile Association (AA) said on Friday. Commenting on unaudited fuel price data released by the Central Energy Fund this week, the AA said: "Petrol is set for a drop of between 71 and 77 cents a litre, diesel will be lower by 50 to 53 cents, and illuminating paraffin down by about 56 cents. " It warned, however, that underlying fundamentals pose a threat to motorists. The weak rand is extracting a heavy toll on consumers, said the AA. "(The) rand's weakness against the US dollar has been expensive for motorists; fuel prices would have dropped by an additional 25c/litre if our currency had remained at its late July levels. " If and when the oil price flattens out, or increases, motorists will be fully exposed to any rand weakness.
Tough times ahead as fuel prices rise :Tuesday 2 June 2015. The main reason for the fuel price increase is the high crude oil prices which resulted in higher prices for all petroleum products in the international markets.
(SABC) Consumers are warned of rough times ahead as fuel prices rise at midnight. Expect big petrol price hike - AA:Thursday 25 June 2015. The price of petrol is to increase by between 43 cents and 46 cents a litre.
(REUTERS) Based on an unaudited daily fuel price data released by the Central Energy Fund, fuel price increases are set to continue in July, the Automobile Association (AA) said on Thursday. It expects the price of petrol to increase by between 43 cents and 46 cents a litre, while diesel and illuminating paraffin will be less affected, with price increases of only around 6c on the cards. Of greater concern to the AA is the average exchange rate, which has weakened from around R11 to over R12.30 to the dollar since January. "If this trend continues and is not offset by reductions in international petroleum prices, fuel prices will begin testing their previous record highs before the end of the year," said the AA. "The average rand/dollar exchange rate has weakened considerably since the end of May. Petrol went up by R1.62 in April, but remained unchanged in May. Consumers warned amid fuel price hike:Tuesday 3 March 2015.
This is the first fuel price increase since oil prices hit record lows recently.
(SABC) A reminder to motorists to fill up. More woes as petrol price goes up :Wednesday 4 March 2015. This is the first fuel price increase since oil prices hit record lows recently.
(Richard Brooks) The price of petrol has gone up by 96 cents a litre, while diesel is up by 74 cents a litre, while paraffin will cost 73 cents a litre more. The prices went up on Wednesday. The main reason for the sharp increase is the average increase in the price of crude oil as well as the rand dollar exchange rate. This is the first fuel price increase since oil prices hit record lows recently. Most economists have warned consumers to tighten their belts as the increase is likely to push up prices.
Hard pressed consumers have been warned of tough times ahead and to spend wisely. Petrol price up by R1.62:Friday 27 March 2015. In Gauteng the price per litre of 93 octane petrol would increase by R1.56 and on the coast by R1.54.
Consumers to dig deep for municipal, electricity and petrol:Tuesday 31 March 2015. Increase in household consumption expenditure is currently below 5% (SABC) Consumers will be hard hit by major price increases on Wednesday.
These will include municipal, electricity and petrol price increases. The price of petrol will rise by R1,62 at midnight, bringing the price of 95 octane petrol inland up to R12,83 cents. Electricity is set to increase by almost 13% to Eskom's direct consumers and by 14% for municipal consumers from the 1st of July. Economists warn that this will have a major impact on consumer confidence and consumer spending in the coming months. Last year consumer confidence was impacted negatively by the poor economic conditions as a result of strike actions seen in the mining sector.
Increase in household consumption expenditure is currently below five percent, and Economists say consumer spending is unlikely to show any real progress this year. "Obviously there will be an impact on consumer confidence but I think it's psychological.
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