Petrol price to decrease by R1.84c per litre

ForceFate

Honorary Master
Joined
May 18, 2009
Messages
18,566
They should just leave it at the current price and build reserves for when the currency misbehaves wildly.
 

ɹǝuuᴉM

Expert Member
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Dec 6, 2015
Messages
3,218
For the second time petrol drops much more than diesel! I know election is not far away but my goodness, you'll pay dearly for this cross subsidisation. Watch the inflation in 6 months or so.
 

ForceFate

Honorary Master
Joined
May 18, 2009
Messages
18,566
For the second time petrol drops much more than diesel! I know election is not far away but my goodness, you'll pay dearly for this cross subsidisation. Watch the inflation in 6 months or so.
Happens most of the time actually. Check stats for the past 5 years and stop your garbage.
 

Milano

Honorary Master
Joined
Feb 7, 2004
Messages
12,100
Yeah, I remember it. Was it back in 2014?
Seemed to happen in December 2015..

Oilgate: How insiders stole R1.5bn in sale of SA’s strategic oil stockpile
08:00 23/08/2016
Alec Hogg



In December, South Africa’s government sold its entire strategic fuel reserve, 10 million barrels of crude oil, at a substantial discount to the price at which the commodity traded. It was a stinky transaction.


Firstly, the oil market is in a contango, a period where selling oil for future delivery translates into a progressively higher premium over the spot price. So the further forward you contract the sale and delivery of the oil, the higher the price.

Yet SA’s reserves were sold with immediate effect. For another, the country dumped its oil reserves at $28 a barrel, at least $10 below the market price ruling at the time. Plus there is no international precedent – to our knowledge this is the first time any nation on earth saw fit to expose itself to actually having no oil reserves.

https://m.fin24.com/BizNews/oilgate-how-insiders-stole-r15bn-in-sale-of-sas-strategic-oil-stockpile-20160823
 

ArtyLoop

Executive Member
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Dec 18, 2017
Messages
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Only to be increased by an even larger amount early in 2018..
 

Beyond.Celsus

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May 29, 2018
Messages
1,818
And if it drops more? Want to put money on your prediction?
What has been the history of the petrol price the last year?
Drops for a while, increases by more than the drop. A while later it decreases a bit then increases again by more than the previous decrease.

True or untrue?
 
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