SourceNews24 wrote:Johannesburg - South African petrol pump prices will fall by 18 percent next week on a sharp drop in international oil prices, another sign that inflation is easing.
A statement from the minerals and energy department on Friday said 95 octane petrol - the most used fuel - would drop to R7.35 rand a litre on December 3 in Gauteng from R8.96. It is now R7.11 at the coast from R8.72 before.
Wholesale diesel prices will drop by up to 81c a litre, or about 9%, from the same date, despite a weaker rand currency.
South Africa adjusts its fuel prices every month, taking into account changes in the value of the rand currency, oil prices and government levies.
"During the period under review, the average international product prices of petrol, diesel and illuminating paraffin decreased," the department said.
The latest adjustment marks the fifth monthly fall in a row and brings to more than 30% the decrease since the petrol price hit a peak R10.70 in July, adding to hopes inflation will slow sharply.
With food prices, higher fuel costs had been the main drivers pushing, and keeping, consumer inflation outside the central bank's 3% to 6% target band.
But after hitting a record high of 13.6% year-on-year in August, CPIX inflation eased to 12.4% in October, raising speculation that the Reserve Bank may start unwinding the total 5 percentage points in rate increases since June 2006.
Most analysts foresee a rate cut early next year but the market is pricing in a move on December 11.
The minerals and energy department said a big drop in crude oil prices in November compared to October far exceeded the depreciation of the rand, which slipped on average by nearly 6%.
Petrol down by 161c
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Petrol down by 161c
Kia kaha, Kia māia, Kia manawanui.
Re: Petrol down by 161c
I like
There are 10 types of people in this world.
Those who understand binary and those who do not.
Those who understand binary and those who do not.
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Re: Petrol down by 161c
What pisses me off is that the retailer will keep their prices as it is now regardless of the decrease in the fuel price.
All they care about is profit and the decrease in transport cost will surely benefit said profits nicely.
All they care about is profit and the decrease in transport cost will surely benefit said profits nicely.
Re: Petrol down by 161c
Good news for KB!
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Re: Petrol down by 161c
ABOUT BLOODY TIME!
Soon Google will know everything...including how to divide by zero
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Re: Petrol down by 161c
awsome.
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Re: Petrol down by 161c
//pessimist alert
It has to go down before it can go up, again...
//pessimist alert done... have a nice day
It has to go down before it can go up, again...
//pessimist alert done... have a nice day
If you are at your Wits End...
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Re: Petrol down by 161c
Actually, that's not entirely accurate. It's gone up LOTS in the past without going down first.
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Re: Petrol down by 161c
It's normally quite a bumpy ride...Stuart wrote:Actually, that's not entirely accurate. It's gone up LOTS in the past without going down first.
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Re: Petrol down by 161c
This is going to help me a lot with the upcoming short time I am going on...
JUSTICE, n A commodity which is a more or less adulterated condition the State sells to the citizen as a reward for his allegiance, taxes and personal service.
Re: Petrol down by 161c
I thought you were gonna rick-roll us.
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Re: Petrol down by 161c
wonderfull. too bad the product prices won't cum down.
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Re: Petrol down by 161c
They might just - remember, transport costs go down as well - so the product should have a positive turn as well ?
Unless the greedy b.. ughh
Unless the greedy b.. ughh
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Re: Petrol down by 161c
That may be true, but remember, retailers had a pretty crap time the past two months, most will probably try to recover loss now..maxxis wrote:What pisses me off is that the retailer will keep their prices as it is now regardless of the decrease in the fuel price.
All they care about is profit and the decrease in transport cost will surely benefit said profits nicely.
Re: Petrol down by 161c
imported product prices wont drop in a hurry
on a happy note i can actually see the difference now in my fuel gauge when i go and fill up my regular amount of fuel - it actually almost reaches half a tank now for R100 on the gauge (we all know those gauges are retarded) but it was way short of this before
on a happy note i can actually see the difference now in my fuel gauge when i go and fill up my regular amount of fuel - it actually almost reaches half a tank now for R100 on the gauge (we all know those gauges are retarded) but it was way short of this before
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Re: Petrol down by 161c
Bit of a revival....
Petrol is going up again by 50 odd cents on the 4th of Feb...
Petrol is going up again by 50 odd cents on the 4th of Feb...
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Re: Petrol down by 161c
I knew it was too good to last
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Re: Petrol down by 161c
Well that sux IcePick88, source?
Re: Petrol down by 161c
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