For more financial news, go to the News24 Business front page. The bodies of two suspects were found near Kibler Park in Johannesburg after the latest attempt to steal fuel from a Transnet's pipeline, the parastatal reported on Monday. One body was found in a shack located some 30 metres away from Transnet's petroleum pipeline and the other was found in a tunnel burrowed between the shack and the pipeline. "It is suspected…

The EU, the G-7 and its allies will next month impose a cap on the price of Russia’s refined fuel exports, including diesel.  The move has some oil-market watchers concerned about the potential for price spikes.  Sanctions are likely to see a great rerouting of global diesel flows. For more financial news, go to the News24 Business front page An unprecedented chunk of the global diesel market, the workhorse fuel of the global…

WATCH Tanker overturns in Ekurhuleni two weeks after deadly explosion, people rush to siphon fuel Motorists were warned to avoid the intersection in Ekurhuleni where a diesel tanker crashed on Friday. Spilled diesel was still on the road and another tanker was on the scene to remove unspilled diesel from the trailer. The Road Freight Association said operators compliant in all aspects would have fewer incidents. As authorities work to…

A diesel tanker overturned in Wadeville, Ekurhuleni on Friday morning and emergency services officials had a hard time preventing people from getting closer to the scene to siphon off fuel. This incident comes nearly two weeks after another tanker carrying liquid gas in Plantation, 11km away, on Christmas Eve, exploded. The explosion on Christmas Eve claimed the lives of 37 people, and authorities say this number could still rise. Authorities on…

The outlook for oil prices is uncertain, with risks to the upside In SA, deregulation of 93 octane could still be on the cards. The restart of a Western Cape refinery will also improve security of supply. For more financial news, go to the News24 Business front page Years gone by have more often than not been characterised by steep oil price movements. Who could forget 2021 as the year when oil prices…

On Wednesday, the petrol price (both 93 and 95 unleaded) will be cut by R2.06 a litre, while diesel will be lowered by between R2.69 and R2.81. A litre of 95 petrol will cost R21.40 in Gauteng and R20.75 on the coast. Petrol is now the cheapest it's been since February 2022, when Russia's invasion of Ukraine triggered a spike in oil prices. Diesel will cost R21.23 a litre in…

For more financial news, go to the News24 Business front page. Fuel prices could be slashed by as much as R2.80 in the new year, bringing welcome reprieve to cash-strapped motorists, the latest information from the Central Energy Fund shows. The fund's data shows that 95 unleaded petrol could be cut by R1.94 in January, with 93 petrol due for a R1.95 decrease. Diesel prices could enjoy even steeper cuts of as much as…

A unit at Eskom's Matla power station in Mpumalanga suffered a fire incident on Wednesday afternoon as a result of a fuel oil leak. According to sources at the power utility, spilled fuel oil ignited and started a fire at the power station's unit 6 boiler, resulting in damage to electrical cables at the 3 600MW plant. The fuel oil was isolated and a fire team extinguished the fire. There…

Tanker charter prices are sky-high for ships willing to transport Russian oil amid sweeping sanctions. Middle East and Asian buyers are opportunistically snapping up aging oil tankers to ship Russian fuel. Prices for 20-year-old Aframax tankers have nearly doubled this year. For more stories visit Business Insider. Sweeping sanctions, boycotts, and restrictions on Russian oil have spurred opportunistic profiteering — market entrants are now snapping up aging oil tankers to…

For more finance news, go to the News24 Business front page. On Wednesday, the price of both 93 and 95 unleaded petrol will rise by 59c a litre, while diesel will fall by between R1.52 and R1.57 a litre. In Gauteng, 95 petrol will cost R23.46 a litre from Wednesday, compared to R20.29 a year ago - but down from a peak of R26.74 in July. The Gauteng price of diesel, which reached…