Great news – Petrol price expected to decrease

Not just that... its company cars/car allowances, company petrol cards etc:(
Here's how they do it:

* Company fuel allowances / cards
* Dodging taxes
* Having the vehicle and flash exterior and living in poverty in a 60 sqm flat you don't see
 
Here's how they do it:

* Company fuel allowances / cards
* Dodging taxes
* Having the vehicle and flash exterior and living in poverty in a 60 sqm flat you don't see
60sqm? What luxury is that??
 
Petrol price unchanged, but increases in other fuels

https://www.fin24.com/Economy/petrol-price-unchanged-but-increases-in-other-fuels-20181105?

shared via @Fin24
That price freeze in September has now come back to bite government in the rear. They used up much of the accumulate slate balances at that point to fund it (around R500 million IIRC) and now the slate balances have fallen to negative R2.2 billion so per the fuel price regulations they now have to add a levy to the fuel price to fund the slate again.

The slate levy to be implemented is 21.92 c/l from 7 Nov 2018 which exactly offsets the 22 c/l reduction that would have come through due to changes in the basic fuel price of petrol. On diesel the increase in the basic fuel price would have been only 26 c/l but the slate levy now takes the final price up by 48 c/l.

Source: http://www.cefgroup.co.za/wp-content/uploads/2013/10/Press-Release-02-Nov-2018-Change-7-Nov-2018.pdf
 
Apparently this Slate Levy is not just an once off for November , but it is going to be implemented indefinitely until they make up the deficit (and get the fund to where it should be ) due to all the price increases throughout the year. This from Netwerk24.

Going to be a bumpy ride ! Hope for best for the Rand and brent crude oil prices , besides this levy/fund.
 
Stop fcuking around and make it R20 per litre already.
 
https://solidariteit.co.za/what-is-the-slate-levy/

The slate levy on petrol and diesel is, from time to time, implemented for a month or two, after which it is lifted again. There is currently (October 2012) a slate levy of 13,16c a litre on petrol and diesel. What this levy is, how it works and where the money goes are unbeknown to most people. Because of the word ‘levy’ it is often assumed that it is just another way in which the state sucks our hard-earned money into the tax system.

The slate levy is one of seven levies imposed on fuel for vehicles, but is the only levy that doesn’t go to the state. The money collected through the slate levy goes to the fuel companies. The question then becomes: Why do the companies get this money during certain months when a slate levy is implemented and not during other months?

The answer to this question lies in the way in which fuel prices are determined in South Africa. Each month a “basic fuel price” is determined based on what the cost would have been to import refined fuel into South Africa. Each month’s basic fuel price is based on the prices that were in effect during the previous month. Therefore, each month South Africans pay the price that they actually should have paid in the previous month. In that way, the fuel companies are reimbursed when consumers are charged too low prices during one month, or the companies have to “reimburse” consumers if the prices were too high.

However, if the situation is balanced from one month to the next, then why is something like the slate levy still necessary?

Although the basic fuel price is “corrected” monthly, small imbalances can still build up as a result of the difference between the monthly averages on which the basic fuel price calculation is based and the actual dates on which the fuel companies perform transactions. If the daily basic fuel price for the first half of a month was R8 a litre and for the second half of the month R10 a litre, the average was R9 during the month. If, however, a company performed all its transactions during the first half of the month, its actual price for the month was, of course, R8 and not the average of R9.

When the fuel companies “owe” money to consumers due to this dynamic, the money is placed in a pool for safekeeping in order that the companies can be reimbursed when consumers “owe” them money again. However, sometimes the pool can be depleted. When that happens, a slate levy is implemented to restore the balance – to wipe the slate clean.
 
This is just awesome after the media peddled the pitiful decrease as "good news", now no decrease at all :D

Petrol prices actually decreased. The decrease was filled by a "Slate Levy" giving us a "no increase". Amazing how the Slate levy came in to the exact same cents the reduction was suppose to be :p
 
Petrol prices actually decreased. The decrease was filled by a "Slate Levy" giving us a "no increase". Amazing how the Slate levy came in to the exact same cents the reduction was suppose to be :p

The nature of the mechanism is self correction. The government tried to jippo the price and the levy suffered because of it so it self corrected. Also, from what I read of the act, the levy doesn't fall away. It is re-calculated and if needed, applied at the respective threshold otherwise the fuel is handled in the normal manner with a reduction as per price but according to the levy scale, there is no inverse reduction levy. So it is quite possible for the government to build up a large reserve depending on the swing in a month by the additional levy.
 
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