Petrol price relief

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boramk

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Johannesburg - The retail price of petrol will decrease on average by 27c a litre next Wednesday (August 6), the department of minerals and energy announced on Friday.

It said the actual decreases in the pump prices of all grades of petrol would differ due to the rounding off of pump prices to accommodate the dispensers that could not display 4-digit numbers.

So in Gauteng, for instance, the pump prices would decrease by 30 c/l, it said.

The decrease follows an increase last month of between 69c to 75c cents a litre to record levels of between R10.40 and R10.70. The price of petrol now drops to R10.40 a litre in Gauteng and to R10.10 in coastal areas. Diesel prices will also decrease next week but paraffin prices will increase.

Diesel 0.05% sulphur decreases by 16c and 0.005% by 17c.

Wholesale paraffin increases by 3.4c and illuminating paraffin by 4c.

Diesel in Gauteng now costs R11.27 a litre and R11.13 at the coast.

During the period under review, the average international product prices of petrol decreased, whilst diesel and illuminating paraffin increased, the department said.

The average Rand/Dollar exchange rate strengthened when compared to the previous period. The average Rand/Dollar exchange rate for the period 27 June 2008 to 31 July 2008 was R7.6814 compared to R7.9352 during the previous period.

The department also announced that the minister of minerals and energy had approved an increase of 5.4 c/l in the wholesale margin applicable in the price structures of all grades of petrol, all grades of diesel and illuminating paraffin with effect from Wednesday August 6.

The National Energy Regulator of South Africa (Nersa) has, in terms of the provisions of the Petroleum Pipelines Act, 2003 (Act No. 60 of 2003), also set revised petroleum pipeline transport tariffs with effect from Wednesday, August 6. These revised petroleum pipeline transport tariffs will be implemented into the price structure of petrol and diesel.
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Fin24

Hope it keeps up
 
It said the actual decreases in the pump prices of all grades of petrol would differ due to the rounding off of pump prices to accommodate the dispensers that could not display 4-digit numbers.
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Nit-picky aren't they.

As mentioned elsewhere, just more bullsh1t baffles brains kuk. Next month they'll hit us with 70c. I think to some small degree, we have international pressure to thank for this.
 
Turiko said:
Nit-picky aren't they.

As mentioned elsewhere, just more bullsh1t baffles brains kuk. I think to some small degree, we have international pressure to thank for this.
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You really don't make sense! :eek:

Turiko said:
Next month they'll hit us with 70c.
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If you read all the related petrol articles, we're in for a 100c drop in September! (if the Rand stays at these good levels R7.30 and oil around $120-$125)

This is after the daily unleaded petrol price over-recovery reached 129.816c p/l on July 30, data supplied by the Central Energy Fund on Thursday showed.

An over-recovery means that the basic petrol price based on the daily product price and exchange rate is less than the basic fuel price used in the calculation of the monthly retail petrol. The basic fuel price has dropped by 155.681c p/l, or 20.6% between July 3 and July 30.
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Link

Turiko said:
I think to some small degree, we have international pressure to thank for this
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:eek:

First off, the Rand have strengthened tremendously! Thanks to the carry trade and international trade rumours, as well as the smaller than expected trade deficit. :cool:

"Emerging market sentiment is picking up ... people are looking for carry (higher interest rates) and are ignoring growth. That is what is keeping the rand on the front foot," Bidvest Bank chief trader Ion de Vleeschauwer told Reuters.

A smaller-than-expected trade deficit also bolstered the rand. The local currency, however, ignored better than expected producer price inflation data for June that could serve to strengthen the argument for leaving rates unchanged at the Monetary Policy Committee's next meeting in August.
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Link
 
Turiko said:
Nit-picky aren't they.

As mentioned elsewhere, just more bullsh1t baffles brains kuk. Next month they'll hit us with 70c. I think to some small degree, we have international pressure to thank for this.
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What's your point? These are internationally determined prices, not something the government makes up.
 
BTech said:
Da Ront is strong? Oil is getting cheep? Ibiwisi!
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If the price of oil and the $\R exchange rate don't change, the price of petrol will go down by around R1 next month.
 
Rkootknir said:
If the price of oil and the $\R exchange rate don't change, the price of petrol will go down by around R1 next month.
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the stRont cannot stay where it is. There's a current rally on the market and will soon slump back to around R7.60. Oil will soon start climbing as well (US hoarding), maybe not during August but definitely as of Sept. I see ULP at R12/L by Jan09:(
 
on a more positive note...if the Gold price stabilizes so will the Ront. If Israel backs down about Iran in the next few weeks. The oil price will float at R120 for a while. Currently the Euro is really driving the market. I suggest rather watching the R/EU than R/$ as an indicator of upward pricing. Also don't follow so much the Brent price. Rather focus on West African heavy. The Oil margins are better there and a lot of SA production originates from these sources e.g fuel/bunker oil for powerstations etc
 
This thread's title is totally wrong.

It should read, getting screwed again by a stupid a 27c drop.

The oil price rises by 5 dolla we get hit with a 40-80c hike, it drops 25 dolla and the rand strengthens we get a 27c reduction. This is not relief.
 
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