Large petrol price increase expected

[BBSA]

http://www.mg.co.za/article/2010-03-23-large-petrol-price-increase-expected

The next fuel increase is expected to be high due to the rand going through a bad patch and the introduction of new levies, the Energy Department said on Tuesday.

"The department will announce the increase next week, but at this stage it is speculative," said spokesperson Bheki Khumalo of reports of an expected 50 cents per litre price rise.

However, due to fluctuation in the rand/dollar exchange rate, under-recovery will be at least 25 cents a litre for petrol and 23 cents a litre for diesel.

The petrol price is quoted in US dollars, and is influenced by international oil prices -- which shift daily -- the rand/dollar exchange rate and the supply and demand of the commodity.

According to the Energy Department's website, the price paid at the pump includes the cost of transporting petroleum products to South Africa, insurance, agents' fees, the cost of using harbour facilities to offload, and storage at terminals. Then there are inland transport costs, customs levies and retail profit margins.

Under-recoveries occur when the exchange rate is worse than planned, making dollars more expensive, which in turn costs the government more for fuel.

Other levies, announced by the minister of finance earlier this year, were due to come into effect on April 7.

They include an increase in fuel taxes of 25,5 cents a litre, which includes 7,5 cents towards a new fuel pipeline between Durban and Gauteng, and another eight cents for the Road Accident Fund, on top of the 64 cents it gets from every litre of fuel.

South Africans already have to find extra money for electricity prices increases.

Not good

 

[RaptorSA]

 

[Kosmik]

Rand going through a bad patch is bull, Rand is quite strong at the mo. Oil however is riding $80 a barrel but the real reason is the extra levies and taxes, 24 odd c expected from the rand\oil and 25.5c from the new levies.

 

[boramk]

Rand is doing well

Oil prices have climbed tho

 

[blaaislaai]

My friend at Sasol says they make petrol for R2 per liter. :/

 

[rodga]

My friend at Sasol says they make petrol for R2 per liter. :/

ask him to organise some with his staff discount for me please

 

[blaaislaai]

ask him to organise some with his staff discount for me please

I already tried lol. They dont do staff discounts

 

[HavocXphere]

which includes 7,5 cents towards a new fuel pipeline between Durban and Gauteng

And which fine outfit gets to profit from the pipeline that we are paying for?

My friend at Sasol says they make petrol for R2 per liter. :/

And your friend then sells it at import parity price.

 

[Kosmik]

/me gets diesal at about R1 cheaper than the pump from work.

But still not low enough

 

[Mila]

My friend at Sasol says they make petrol for R2 per liter. :/

Depends on the rand.

 

[ToAsTeD]

Milk some more from us please.

 

[news24]

My friend at Sasol says they make petrol for R2 per liter. :/

SASOL is profiteering, even if the price of oil was $10 per barrel, they would still profit. That's why a few years ago some people in the government and Cosatu suggested a special tax on SASOL, however SASOL in their defence threatened to stop expansion plans in SA.

We are getting ripped off though these endless levies and taxes. Screw the government

 

[Datura]

Moving close to work was the best thing I ever did. Saves me quite a packet every month.

Pity there are so many damned pubs in the area.

 

[Devill]

Rand going through a bad patch is bull, Rand is quite strong at the mo. Oil however is riding $80 a barrel but the real reason is the extra levies and taxes, 24 odd c expected from the rand\oil and 25.5c from the new levies.

It is supposedly used to fix roads.... please can I go show them 100 000 000 potholes in Gauteng and the north west alone?

Just another lie so the baffoons in power can drive their fancy cars