Petrol price set to drop?

[Freshy-ZN]

Nothing to do with the COSATU strike?

http://www.fin24.com/articles/default/display_article.aspx?Nav=ns&ArticleID=1518-25_2354412


Reading that article I cant help think that we are really being screwed properly and that the price of fuel is artificially inflated using the Opec Reference Basket and other guavament bullschitt as excuses.

So they just put it up by what 80cents and now it might drop by 40cents? Whoopee. Smoke and mirrors FTW.

 

[Moederloos]

Rand has been a bit better - might be the reason.
7.67 now as opposed to 8.02 or so a week or two back

 

[Devill]

I will believe it when I see it

I have heard that they might cut the tax on petrol thus lowering the price.....

 

[Dr@g0nic]

ag a drop doesnt count... coz you see in a case like this, it goes up by 80 and drops by 40 so tecnically it went up by 40 and you dont notice it coz your too happy bout the "drop"

 

[killadoob]

40c now next hike R1.50

 

[charlie_82]

40c now next hike R1.50

+1

 

[HateTelkom]

I will believe it when I see it

Agree, even if its 40c as assumed.

 

[ToxicBunny]

Given South Africas horribly reputation as an economy with incredibly "sticky" prices.. I'd be surprised to see it drop at all....

 

[lilGr]

Any petrol price drop would be good , but the chances are they drop now/soon by 40c then go up 80c+ two weeks later :\ grrrrrrrr

 

[marine1]

40c now next hike R1.50

Yeah exactly.

 

[OhGats]

Ya, and if you believe that I have a slightly used bridge to sell you. If it drops it will be by 2 cents and then go up by 70 cents the next month. And, even if it drops will the prices of everything else drop? I somehow doubt it.

 

[kiepie]

OMW, not a single positive comment without a BUT!!

The change in the petrol price is set due to change in BRENT CRUDE and the EXCHANGE RATE!!! And please tell me you know this,and I don't have to repeat it. Because I do!

All the government is responsible for is the taxes on the fuel.

Be happy in a price drop and stop being so pessimistic!

Oil has drop $10 in the past week or so.
The rand is keeping steady at R7.75-R7.80

 

[marine1]

But I am positive, positive it will be short lived

 

[TMoose]

That's odd, Shell's website predicts a 35-40c increase for Wednesday 6 August. Maybe the reporter got it wrong.

http://www.shell.com/home/page/za-en/shell_for_motorists/app_petrolprice.html

 

[kiepie]

That's odd, Shell's website predicts a 35-40c increase for Wednesday 6 August. Maybe the reporter got it wrong.

http://www.shell.com/home/page/za-en/shell_for_motorists/app_petrolprice.html

That's what i was wondering, IMHO, I don't know where Shell got those statistics from. Oil is down.

I see Shell's website says Oil was $143 yesterday, oil was around $140 yesterday.

 

[Turtle]

Nothing to do with the COSATU strike?

http://www.fin24.com/articles/default/display_article.aspx?Nav=ns&ArticleID=1518-25_2354412


Reading that article I cant help think that we are really being screwed properly and that the price of fuel is artificially inflated using the Opec Reference Basket and other guavament bullschitt as excuses.

So they just put it up by what 80cents and now it might drop by 40cents? Whoopee. Smoke and mirrors FTW.

There's no big conspiracy here, two things just happened during the past week: The Rand strengthened significantly (relatively speaking) and the oil price just dropped a fair amount. Follow the news on these things and you'll see the pattern yourself.

If this was some big conspiracy by our government to screw everyone, why would they bother to drop the price now? (Especially given it'll probably go up again soon when the oil price gets back on its upward swing and the Rand weakens again; the reason for the oil price drop was dramatically increased recessionary fears for developed economies (thus lower demand) - this likely doesn't bode well for our economy either.)