Industry News

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21
Aug

Sasol met with fund managers as US plant’s costs climbed

Sasol, South Africa’s biggest company by revenue, said it held meetings with shareholders as dissatisfaction grew over cost overruns at the $13bn (nearly R200bn) Lake Charles chemical project in the US. The meetings began after Sasol raised the estimated cost of the project by $1bn (over R15bn at current rates) in May, having increased it only three months earlier, the company said in a response to questions. On August 16,…

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21
Aug

POLL: ‘The quality and service in SA is the highest in the world’ – how do you feel about local service stations?

Earlier in August, we published data by Lightstone Auto, revealing how the service station industry continues to evolve in a demanding local environment. Lightstone's data reports that the average motorist stops at a service station approximately nine times per month, typically covering 220km between stops. We asked readers how they felt about service stations in SA and our homepage poll garnered more than 11 000 votes. Sadly, 50% believe that…

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16
Aug

Anything which shocks oil higher or the rand weaker has the potential to cause sharp fuel price increases, says the association.

The Automobile Association of South Africa has announced that petrol will increase by around 12 cents a litre, while diesel will be down by 16 cents in August. Illuminating paraffin is also down by eight cents a litre, according to the unaudited month-end fuel price data released by the Central Energy Fund. The AA said in a statement: “International oil prices have steadily trended upwards since the start of June, although…

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15
Aug

Fuel price outlook | Rand weighs heavily on fuel picture – AA

Sudden Rand weakness after a lengthy period of stability has put pressure on the fuel price and left South African fuel users at the mercy of international oil markets. This is according to the Automobile Association (AA) which was commenting on unaudited mid-month fuel price data released by the Central Energy Fund. Based on the current data, petrol is showing an increase of up to ten cents a litre, illuminating…

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15
Aug

SEE: More than just a place to fill-up: Average SA motorist stops at a service station about 9 times month, 220km between stops

Data specialists Lightstone reveals how the service station industry continues to evolve in a demanding environment. At the Nedbank Franchising Roadshow, Lightstone, pointed out that the service station sector plays a pivotal role in the transport and franchise industry. Linda Reid, Head of Commercial Property at Lightstone highlighted that service stations not only provide consumers with the essentials of fuelling-up their vehicles but also provide an array of additional retail…

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15
Aug

Petrol price set to rise in September and things could get worse – AA

Based on the current data, the price of petrol could increase by up to ten cents a litre in September, the Automobile Association said on Thursday. The AA further foresees that the price of illuminating paraffin could increase by 12 cents and diesel as much as 16 cents. Subscribe to Fin24's newsletter here The AA commented on unaudited mid-month fuel price data released by the Central Energy Fund. The AA…

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13
Aug

POLL: ‘Automaker claims are inaccurate’ – motorists respond to SA fuel consumption figure

Earlier in July, we reported that financial powerhouses WesBank and First National Bank (FNB) are joining forces to sponsor a five-day Fuel Economy Tour of South Africa. The aim is to provide motorists not only with definitive car fuel consumption figures but also indicative travelling times between major centres in the country. The event, for standard production passenger cars and light commercials, will take place from November 12-16 and will…

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13
Aug

SEE: Fuel focus – World’s cheapest petrol

Oil-producing countries, particularly those exporting crude oil, benefit from the some of the cheapest fuel prices in the world. SEE: Fuel price hikes - Here's how much neighbouring African countries are paying for petrol Cuba tops the list as the cheapest price for petrol in the world at $0.09 (R1.39) per litre, compared to South African motorists currently paying R15.72 per litre. https://www.wheels24.co.za/Fuel_Focus/see-fuel-focus-worlds-cheapest-petrol-20190812

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12
Aug

PIC: Another truck petrol-bombed in Cape Town, one injured

A truck assistant suffered burn wounds to his face and hands after a bread truck was allegedly petrol-bombed near Strand on Saturday. This is the second incident of a truck being petrol-bombed in the area in less than a week. City of Cape Town fire services spokesperson Jermaine Carelse said a team of 12 firefighters responded in two fire engines and a rescue vehicle at 13:30 to the burning truck on the…

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12
Aug

Tanzania fuel tanker blast kills 57

Fifty-seven people died in Tanzania on Saturday when a fuel tanker exploded after overturning on a road west of the capital Dar Es Salaam, police said. The disaster took place near the town of Morogoro, with police saying the blaze may have been sparked by a cigarette as people rushed to collect leaking fuel from the stricken truck. "There was a huge blast which has so far killed at least…

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