The Petrol Price

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Turiko

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I heard on the news this morning that the price of oil has gone below $100. Some rep of the petrochemical industry said on the radio that we will see a decrease of between 89c and R1 next month. Always next month when they can actually do it NOW!

My prediction is we will only see 40-61c reduction, if you factor in the greedy people in the petrol sales chain. I also predict that the tropical storms will drive the prices through the roof before next month so they're getting our hopes up for nothing again

What do you think? Discuss.
 
Turiko said:
I heard on the news this morning that the price of oil has gone below $100. Some rep of the petrochemical industry said on the radio that we will see a decrease of between 89c and R1 next month. Always next month when they can actually do it NOW!

My prediction is we will only see 40-61c reduction, if you factor in the greedy people in the petrol sales chain. I also predict that the tropical storms will drive the prices through the roof before next month so they're getting our hopes up for nothing again

What do you think? Discuss.
Click to expand...

Yeah well I still do not see why we pay the same for Sasol's Petrol/diesel because they do not pay import taxes.....

Fooking gouvernment fat cats :mad:

Yeah I also think we will not see the full decrease that was actually economically on the cards....

As always they are quick to put it up, but very slow to bring it back down.

Also the monthly thing is just for stability, remember the price only goes up once a month aswell ;)
 
In Saudi Arabia the petrol price is 45c South African.

If we had that price here, I could fill up my car for R27.
 
Sort of off-topic, but from the Financial Mail last month:

RAF in numbers
-Financial Mail, 15 Aug

  • R7bn , the bulk of its income, was received by the Road Accident Fund (RAF) from the fuel levy in 2006/2007.

    R6,6bn was paid out in claims during the past financial year.

    44% of all claims paid are channelled to attorneys, not claimants.

    6 years is the average time it takes the RAF to pay out a claim.

    341 146 claims are outstanding.

    6% of the total fuel price at the pump is the amount the RAF levy represents.

    80% of all claims paid out are under R40 000.

    R500m - the record - was paid by the RAF to a Swedish accident victim who lost an arm and a leg.

    R160 000/year is the maximum pay out for loss of income and support under the new RAF Amendment Act.

    R2,7bn or 55% of total claims was paid out to accident victims in "pain and suffering" claims.

    R490m or 10% was paid out for medical cost claims.

    79% of claims over R5m were made by foreign nationals.

    R1,7bn was paid by the RAF for lawyers' and experts' fees.

    R20bn is the fund's negative equity.

    R5,1bn has been set aside for claims payable in the 2008 financial year.

Source: RAF annual report 2006/2007
Click to expand...
 
bwana said:
I read it was 45¢ US.
Click to expand...

Read again.

0.12 USD/ liter

0.45 USD/ gallon

But 0.12 x 8 = ZAR 0.96 ... but then again 45c is what I heard from a collegue who is working there ATM.
 
Last edited by a moderator:
Picard said:
Read again.

0.12 USD/ liter

0.45 USD/ gallon

But 0.12 x 8 = .96 ZAR ... but then again 45c is what I heard from a collegue who is working there ATM.
Click to expand...
Strange - I guess I still work in gallons. :)

Their price of 95¢ US (as of Aug 08) is also thanks to government subsidisation :o
 
bwana - "Never argue with an idiot. They drag you down to their level, then beat you with experience" Unknown

This quote I read in a Dilbert comic. Maybe the writer is the author of this quote.
 
Devill said:
Yeah well I still do not see why we pay the same for Sasol's Petrol/diesel because they do not pay import taxes.....

Fooking gouvernment fat cats :mad:

Yeah I also think we will not see the full decrease that was actually economically on the cards....

As always they are quick to put it up, but very slow to bring it back down.

Also the monthly thing is just for stability, remember the price only goes up once a month aswell ;)
Click to expand...

It is, however, not Sasol's fault. Regulated prices fall squarely on the shoulder of guavamint.
 
Turiko said:
Some rep of the petrochemical industry said on the radio that we will see a decrease of between 89c and R1 next month. Always next month when they can actually do it NOW!
Click to expand...

Remember, the same applies to increases...
 
Last edited:
Devill said:
Yeah well I still do not see why we pay the same for Sasol's Petrol/diesel because they do not pay import taxes.....

Fooking gouvernment fat cats :mad:

Yeah I also think we will not see the full decrease that was actually economically on the cards....

As always they are quick to put it up, but very slow to bring it back down.

Also the monthly thing is just for stability, remember the price only goes up once a month aswell ;)
Click to expand...

+1
 
Devill said:
Yeah well I still do not see why we pay the same for Sasol's Petrol/diesel because they do not pay import taxes.....

Fooking gouvernment fat cats :mad:

Yeah I also think we will not see the full decrease that was actually economically on the cards....

As always they are quick to put it up, but very slow to bring it back down.

Also the monthly thing is just for stability, remember the price only goes up once a month aswell ;)
Click to expand...

Man, just buy Sasol shares and shut your trap!
 
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