Holiday petrol price increase

M

MKFrost

Expert Member
Joined
Oct 23, 2012
Messages
3,837
Reaction score
6
Location
Cape Town
The day after etolls start....

Johannesburg - The price of petrol and diesel will increase from midnight on Tuesday.

The price of both grades of petrol would increase by 17 cents a litre and diesel by 10.12 cents a litre, the energy department said on Friday.

"The fuel price changes include the annual margins adjustment, changes in the Basic Fuel Price and the decrease in the slate levy," it said in a statement.

http://www.news24.com/SouthAfrica/News/Holiday-petrol-price-increase-20131129
Click to expand...
 
"The fuel price changes include the annual margins adjustment, changes in the Basic Fuel Price and the decrease in the slate levy," it said in a statement.
Click to expand...

In simple translation the "corruption" + eToll index!
 
I was waiting for this as Brent crude has been shooting up again, expect another increase end Dec
 
Lupus said:
I was waiting for this as Brent crude has been shooting up again, expect another increase end Dec
Click to expand...

Actually, I've been keeping a vary close watch on this, and Brent has moved from 108 to 111 in the last couple of weeks - increases are supposed to cover losses incurred over the previous month.

I am willing to bet that this increase was planned LONG before the price of Brent went up.

This is like shooting goldfish in a bowl for these bastards - just another way to milk us and pay for the gravy train! :mad:
 
While no-one likes these fuel price increases, I think SA uses a transparent and fair method to adjust fuel prices each month.

In addition to the price of Brent Crude, one of the major factors in that calculation is the value of the ZAR vs. other world currencies, and the fall in the value of the ZAR can be blamed on our incompetent & corrupt government.
 
atomcrusher said:
While no-one likes these fuel price increases, I think SA uses a transparent and fair method to adjust fuel prices each month.

In addition to the price of Brent Crude, one of the major factors in that calculation is the value of the ZAR vs. other world currencies, and the fall in the value of the ZAR can be blamed on our incompetent & corrupt government.
Click to expand...
Transparent it may be, however, when you consider that we don't even BUY Brent Crude and just base our price on it, I think the entire system stinks!
Sasol supplies fuel to 80 or 90% of Gauteng - our biggest users, and they are also happily sticking to the "Brent" price - they are a rotten bunch of bloody thieves!
 
You can find more information on how the price is updated on the page below. There are two links on that page, one to the daily update and one to the monthly which is the audited one.

The daily shows the current under/over recovery being made and thus give a prediction on what one can expect for the next month in terms of the fuel price.

http://www.cef.org.za/index.php?Itemid=18&id=84&option=com_content&view=article
 
The daily shows the current under/over recovery being made and thus give a prediction on what one can expect for the next month in terms of the fuel price.
Click to expand...

Yes - over and under recovery based on a totally fictitious price. :rolleyes:

We do not buy Brent Crude!
 
Fazda said:
Transparent it may be, however, when you consider that we don't even BUY Brent Crude and just base our price on it, I think the entire system stinks!
Sasol supplies fuel to 80 or 90% of Gauteng - our biggest users, and they are also happily sticking to the "Brent" price - they are a rotten bunch of bloody thieves!
Click to expand...

You do realise that the fuel price is regulated, right? I assume by Sasol you mean coal to liquids in which case you're wrong about the supply, maybe combined with their crude joint venture with Total but not from coal alone.
 
R13... said:
You do realise that the fuel price is regulated, right? I assume by Sasol you mean coal to liquids in which case you're wrong about the supply, maybe combined with their crude joint venture with Total but not from coal alone.
Click to expand...

Yes I do know that, however, I also know that Sasol and its shareholders luxuriate in the extra income based on SA basing its retail price of petrol over the supply of Brent.
They have been laughing all of the way to the bank for decades, firstly under the Nat government when their prices were protected, and now under the ANC where we have a price based on an overseas commodity that has absolutely no connection with Sasol.
 
Fazda said:
Yes I do know that, however, I also know that Sasol and its shareholders luxuriate in the extra income based on SA basing its retail price of petrol over the supply of Brent.
They have been laughing all of the way to the bank for decades, firstly under the Nat government when their prices were protected, and now under the ANC where we have a price based on an overseas commodity that has absolutely no connection with Sasol.
Click to expand...

I thought you were presenting a factual argument, sorry please continue with your rant.
 
You do realise that Sasol fuel isn't made of magic and fairy dust right? It's a costly process and every barrel of fuel made from it is just as costly as a normal barrel of fuel.
So they have to base their price on something to remain I'm business.
 
coal liquefaction generally is a high-temperature/high-pressure process, it requires a significant energy consumption and, at industrial scales (thousands of barrels/day), multi-billion dollar capital investments. Thus, coal liquefaction is only economically viable at historically high oil prices, and therefore presents a high investment risk.
 
wizardofid said:
coal liquefaction generally is a high-temperature/high-pressure process, it requires a significant energy consumption and, at industrial scales (thousands of barrels/day), multi-billion dollar capital investments. Thus, coal liquefaction is only economically viable at historically high oil prices, and therefore presents a high investment risk.
Click to expand...

I agree, but this investment was made in the 1950's and 60's.

Sasol is laughing all the way to the bank 50 years down the road.
 
Lupus said:
You do realise that Sasol fuel isn't made of magic and fairy dust right? It's a costly process and every barrel of fuel made from it is just as costly as a normal barrel of fuel.
So they have to base their price on something to remain I'm business.
Click to expand...

I certainly do - and after chatting to several people at Sasol I have discovered that it costs considerably less to produce than the dollar price of Brent Crude.

May I repeat, Sasol is laughing all the way to the bank!
 
Agreed on the Sasol thing..

Their cost to produce a litre of fuel is considerably lower than the wholesale price they're selling it for.
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X