Scrap toll roads - Build bicycle lanes

[Mojoman]

Give me strength, another fuel hike on the horizon...

 

 

As South African motorists still struggle to absorb March’s massive petrol price hike, another shocker is on the horizon.

 

The fuel price is likely to rise by 21 cents a litre as of next week.

 

The Department of Energy is set to confirm this by Wednesday.

 

The price adjustments could also see the diesel price climb by between four and six cents.

 

Peter Noke from the South African Petroleum Retailers Association said the usual suspects were behind the hike.

 

“The Rand has been very weak and the international crude price has played a part.”

 

Noke said that while crude prices have stabilised in recent weeks, fuel prices were still negatively affected.

 

The petrol price went up by 70 cents in March.

 

The department attributed the hike to the increasing prices in brent crude oil.

 

http://business.iafr...ews/791139.html

Edited April 24, 2012 by Mojoman

[Ryan]

WTF does this mean?

 

"Noke said that while crude prices have stabilised in recent weeks, fuel prices were still negatively affected."

[Minion]

WTF does this mean?

 

"Noke said that while crude prices have stabilised in recent weeks, fuel prices were still negatively affected."

Our petrol price is based on international refinery petrol prices, not the oil price.

[Wannabe]

Which means more money in the ANC Government pockets.

[Ryan]

Our petrol price is based on international refinery petrol prices, not the oil price.

 

So then why do they refer to the oil price every time there is a price hike?

[Minion]

So then why do they refer to the oil price every time there is a price hike?

The international refinery price is driven by the oil price, but there is not a direct link. If oil goes up, it usually makes the petrol price rise too, but there might be some lag.

 

Edit: Here's an explanation of how our petrol price is calculated:

http://www.sasol.com/sasol_internet/downloads/FuelPrice_calculation_SA_07_1170868230705.pdf

and an animation:

http://www.sasol.com/sasol_internet/frontend/common/flash/petrol_price.html

Edited April 24, 2012 by Edam

[CAAD4]

WTF does this mean?

 

"Noke said that while crude prices have stabilised in recent weeks, fuel prices were still negatively affected."

 

Is he related to Tim???

[Minion]

Is he related to Tim???

Tim?

[Sandro]

Bike lanes? You got my vote.