April petrol price hike - no money for a price cap

[Jan]

South Africa's petrol price formula to be reviewed — but a hike can't be stopped

The Department of Mineral Resources and Energy (DMRE) will look to review the fuel price formula in South Africa on the back of rising crude oil prices but indicated that a fuel price cap was not feasible as government lacks the funds to do so.

This is according to DMRE mineral and petroleum regulation deputy-director Tseliso Maqubela, who explained what the government was considering during an interview with 702's Africa Melane.

 

[backstreetboy]

Then go get the money...

 

[dualmeister]

as government lacks the funds to do so

 

[Agent_Smith]

Well the price of Brent Crude has receded back to around what it was before the whole Ukraine debacle (it's currently sitting at around $100 compared to $92 before Feb23) so in theory, the price in the coming months should then recede back to what it was. Right? RIGHT!?

Crude Oil Price Today | WTI OIL PRICE CHART | OIL PRICE PER BARREL | Markets Insider

Oil Price: Get all information on the Price of Oil including News, Charts and Realtime Quotes.

markets.businessinsider.com

 

[RaptorSA]

So I just bought an electric bike.. yippee!!
Look at me.. no more fuel use for short travels.

Oh, wait...

 

[Jet-Fighter7700]

Idiots in the ANC got to make Money somehow,
KFC does not pay for itself, didnt you learn that at school with your 30%.

 

[WAslayer]

So I just bought an electric bike.. yippee!!
Look at me.. no more fuel use for short travels.

Oh, wait...

View attachment 1272028

Ag, this k@k again.....

 

[cr@zydude]

Well the price of Brent Crude has receded back to around what it was before the whole Ukraine debacle (it's currently sitting at around $100 compared to $92 before Feb23) so in theory, the price in the coming months should then recede back to what it was. Right? RIGHT!?

Crude Oil Price Today | WTI OIL PRICE CHART | OIL PRICE PER BARREL | Markets Insider

Oil Price: Get all information on the Price of Oil including News, Charts and Realtime Quotes.

markets.businessinsider.com

Use the monthly average for March and compare it to the average from February.

Refineries don't buy all of their oil on one day.

 

[Neuk_]

South Africa's petrol price formula to be reviewed — but a hike can't be stopped

The Department of Mineral Resources and Energy (DMRE) will look to review the fuel price formula in South Africa on the back of rising crude oil prices but indicated that a fuel price cap was not feasible as government lacks the funds to do so.

This is according to DMRE mineral and petroleum regulation deputy-director Tseliso Maqubela, who explained what the government was considering during an interview with 702's Africa Melane.

Well, if the fuel price goes up by quite a bit and causes a severe reduction in the sale of fuel, the 'government' will have even less funds

 

[pinball wizard]

Tseliso Maqubela,

Wait. Did this dumb**** **** and his colleagues just discover today that the fiscus is bankrupt?

 

[Dimpie (COMPUTEK)]

“Currently, because the prices have been going up and up and up, we actually have exhausted all of that money that was sitting in the state account.”

 

[pinball wizard]

View attachment 1272100

Carl Neihaus as a baby?

 

[qscwbt]

Just review the amount of tax government makes

 

[pinball wizard]

Just review the amount of tax government makes

Just review the amount of money those in government steal, I mean the "irregular spending..."

 

[KleinBoontjie]

but a hike can’t be stopped

Already got the money earmarked for someones pocket

 

[pinball wizard]

Already got the money earmarked for someones pocket

That bitch from Sedibeng wants a car that costs more than R700k...

 

[Lupus]

Well the price of Brent Crude has receded back to around what it was before the whole Ukraine debacle (it's currently sitting at around $100 compared to $92 before Feb23) so in theory, the price in the coming months should then recede back to what it was. Right? RIGHT!?

Crude Oil Price Today | WTI OIL PRICE CHART | OIL PRICE PER BARREL | Markets Insider

Oil Price: Get all information on the Price of Oil including News, Charts and Realtime Quotes.

markets.businessinsider.com

Don't forget the exchange rate has also dropped 30c

 

[marvelguy]

Anybody remember this?

Controversial oil reserves sale ‘corrupt’ and ‘dishonest’ court hears

The sale of South Africa’s crude oil reserves is now facing a criminal investigation by the Hawks

mg.co.za

 

[pinball wizard]

Anybody remember this?

Controversial oil reserves sale ‘corrupt’ and ‘dishonest’ court hears

The sale of South Africa’s crude oil reserves is now facing a criminal investigation by the Hawks

mg.co.za

View attachment 1272132View attachment 1272134

More billions pissed away.

 

[cr@zydude]

Already got the money earmarked for someones pocket

When fuel prices increase in April the government will not be making any more money per litre.