Sharp fuel price rise to hit SA consumers

[MaryJane]

Here

The petrol price could rise to a record high in June, possibly climbing as much as 55c a litre, judging by this week's commodity boom, economists said on Wednesday.

Ouch.

[lucifir]

I am still waiting for the price drop from the fact that the rand doubled in value about a year or so ago ..... when it was like R12 to the dollar ... that was the excuse for the high price of petrol then .... but when it dropped to R6 .... there was no drop in the petrol price ... in fact ... it went up ... and is still doing that ..... makes u wonder !!!

[tibby.dude]

I am still waiting for the price drop from the fact that the rand doubled in value about a year or so ago ..... when it was like R12 to the dollar ... that was the excuse for the high price of petrol then .... but when it dropped to R6 .... there was no drop in the petrol price ... in fact ... it went up ... and is still doing that ..... makes u wonder !!!

Oil is $72 per barrel ... nothing to make you wonder.

[ajak]

So now I will have to push up the price of my short course "How to make petrol bombs"

[kingmonty]

Actually, crude is currently around $74.30 a barrel. Live Prices

[Franna]

Don't forget that every time the petrol price goes up, there is an increase in the levy for the Road Accident Fund.

[bwana]

So now I will have to push up the price of my short course "How to make petrol bombs"

Look into alternatives. How about How to cripple a nation with an Eskom bolt?

[derekc]

I am still waiting for the price drop from the fact that the rand doubled in value about a year or so ago ..... when it was like R12 to the dollar ... that was the excuse for the high price of petrol then .... but when it dropped to R6 .... there was no drop in the petrol price ... in fact ... it went up ... and is still doing that ..... makes u wonder !!!

the rand was R12 to the dollar a few years ago dude...last year was like 6.30 - 6.80 zone. There's something wrong with ur logic here. Just check the trend on the oil price to compare. Don't just look at the rand itself..that doesnt entirely determine the petrol price.

[derekc]

Don't forget that every time the petrol price goes up, there is an increase in the levy for the Road Accident Fund.

I thought the RAF levy was adjusted by Trevor is his annual budget speech in cents/litre not percentage of petrol price? Or am I wrong?

[supersunbird]

I thought the RAF levy was adjusted by Trevor is his annual budget speech in cents/litre not percentage of petrol price? Or am I wrong?

If I remember correctly, everything is percentages...

[hj2k_x]

the rand was R12 to the dollar a few years ago dude...last year was like 6.30 - 6.80 zone. There's something wrong with ur logic here. Just check the trend on the oil price to compare. Don't just look at the rand itself..that doesnt entirely determine the petrol price.

But it should have a bigger effect on the price than it does!! Far too much of the cost of petrol is still levied out to the government. This is so not only in South Africa- in the UK around 70% of the petrol price is levy. Not that this fact makes it any more right that the prices stay so high...

[Gooku]

crude oil at $74 not good....................

not only petrol,prices on everything might go up...............

[ettubrute]

Price of petrol shoots up, and, strangely, Sasol's profits shoots up as well! Makes you wonder...

[Gooku]

Price of petrol shoots up, and, strangely, Sasol's profits shoots up as well! Makes you wonder...

You do have a point, Sasol is the pride son of South Africa,build by the tax payer's money , protected by the tax payer's money (when crude oil price was cheap ,Sasol need to be subsidised to survive)

now its time for SASOL to pay back some of the benefit it received for long

dont you think so ?

[Rkootknir]

You do have a point, Sasol is the pride son of South Africa,build by the tax payer's money , protected by the tax payer's money (when crude oil price was cheap ,Sasol need to be subsidised to survive)

now its time for SASOL to pay back some of the benefit it received for long

dont you think so ?

Built by taxpayers money, yes, but this money (approximately R20bil in the 80's) was all repaid to government when Sasol was privatised.

While the equalisation fund was in operation they also had to pay back money when the oil price was high.

Sasol is now a completely public company, no more debt to taxpayers and no more equalisation fund, so your argument is a bit outdated.

[edit]

Price of petrol shoots up, and, strangely, Sasol's profits shoots up as well! Makes you wonder...

Not really. Sasol makes oil. Oil is an internationally traded commodity. Sasol sells its oil at the price the market is willing to pay (that's how the markets work). When the oil price is high, Sasol makes more profit; when it is low they make less profit; when it's below $14 (IIRC) they make a loss.