Valerie Mmanthe Mampshika,Bachelor of Arts in Psychology and English.
Petrol prices have been reviewed since the earliest months of the year, since the Russia and Ukraine war began in February.
The Department of Mineral Resources and Energy says that they are currently reviewing factors which have an impact on the petrol price in South Africa as part of its measures to try and cushion motorists from unreasonable high prices.
Responding in a written parliamentary Q&A this week, the Energy Minister Mr Samson Gwede Mantashe commented that variations in fuel prices in the country are uncontrollable, noting that the rand/dollar exchange rate and global oil prices are the main aspects which have a direct impact to price changes.
By cushioning himself like anyone else would,Mantashe added that as the minister he also has no control over the international factors which he is partially disinterested in to maintain peace to ensure that South Africa still has a fair trading relationship with other states.
Moreover,the Minister who is currently studying towards a Master’s Degree in Business Administration through MANCOSA,remarked that the Energy Department has already made some moves to adjust the fuel prices, by removing the Demand Side Management Levy of 10 cents per litre from the structure of the inland price of ULP 95 and the 15% premium from the freight rate, which reduced prices by another 10 cents per litre.
The Department of Mineral Resources and Energy says that it is currently reviewing aspects of the petrol price in South Africa as part of its measures to protect bountiful motorists from the blow of high prices.
However,Honourable Mantashe said that his department has already made some moves to adjust fuel prices, including removing the Demand Side Management Levy of 10 cents per litre from the structure of the inland price of ULP 95 and also removing the 15% premium from the freight rate, which reduced prices by another 10 cents per litre.
In an elaborate manner,the Energy Minister said that the department is currently reviewing how industry margins are also calculated in the meantime.
The industry has called for drastic changes to be made based on the basic fuel price and government levies and taxes, which accounts for a significant portion of the price.
Taxes and levies currently make up 28 percent to 32 percent of the total fuel price, with the majority of the pump prices attributed to the basic fuel price (51 percent).
The government, through the Department of Energy and National Treasury, provided some petrol price relief earlier in the year for motorists by removing R1,50 cents per litre from the fuel levy which was not a sustainable solution, since things returned to normal in August this year.
Fuel prices have increased by 14 percent in 2022, from the price R19.61 in January. Even though motorists experienced some relief over the last two months, with successive declines in the petrol price, the latest information from the Central Energy Fund(CEF) is pointing to another increment in the next month.
The CEF data indicated a petrol price increment of between 44 and 53 cents per litre is looming in November if current market conditions are stagnant.
Diesel drivers have been fared far worse, with global demand and worry over supply driving the price up,which in return will be regarded as a sour note for consumers as most goods in the country are transported by diesel trucks.In a nutshell,higher prices for diesel invariably mean higher prices for basic goods required by most families.
Unfortunately,CEF data also indicates that diesel drivers are in for a massive increase in November, showing a possible hike of between R1.61 and R1.64 a litre.
Dope and super informative.
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On 21 Oct 2022 10:08, Valerie Mampshika <valeriemampshika98@gmail.com> wrote:
Valerie Mmanthe Mampshika,Bachelor of Arts in Psychology and English.
Petrol prices
Motorists celebrated too early?
Petrol prices have been reviewed since the earliest months of the year, since the Russia and Ukraine war began in February.
The Department of Mineral Resources and Energy says that they are currently reviewing factors which have an impact on the petrol price in South Africa as part of its measures to try and cushion motorists from unreasonable high prices.
Responding in a written parliamentary Q&A this week, the Energy Minister Mr Samson Gwede Mantashe commented that variations in fuel prices in the country are uncontrollable, noting that the rand/dollar exchange rate and global oil prices are the main aspects which have a direct impact to price changes.
By cushioning himself like anyone else would,Mantashe added that as the minister he also has no control over the international factors which he is partially disinterested in to maintain peace to ensure that South Africa still has a fair trading relationship with other states.
Moreover,the Minister who is currently studying towards a Master’s Degree in Business Administration through MANCOSA,remarked that the Energy Department has already made some moves to adjust the fuel prices, by removing the Demand Side Management Levy of 10 cents per litre from the structure of the inland price of ULP 95 and the 15% premium from the freight rate, which reduced prices by another 10 cents per litre.
The Department of Mineral Resources and Energy says that it is currently reviewing aspects of the petrol price in South Africa as part of its measures to protect bountiful motorists from the blow of high prices.
However,Honourable Mantashe said that his department has already made some moves to adjust fuel prices, including removing the Demand Side Management Levy of 10 cents per litre from the structure of the inland price of ULP 95 and also removing the 15% premium from the freight rate, which reduced prices by another 10 cents per litre.
In an elaborate manner,the Energy Minister said that the department is currently reviewing how industry margins are also calculated in the meantime.
The industry has called for drastic changes to be made based on the basic fuel price and government levies and taxes, which accounts for a significant portion of the price.
Taxes and levies currently make up 28 percent to 32 percent of the total fuel price, with the majority of the pump prices attributed to the basic fuel price (51 percent).
The government, through the Department of Energy and National Treasury, provided some petrol price relief earlier in the year for motorists by removing R1,50 cents per litre from the fuel levy which was not a sustainable solution, since things returned to normal in August this year.
Fuel prices have increased by 14 percent in 2022, from the price R19.61 in January. Even though motorists experienced some relief over the last two months, with successive declines in the petrol price, the latest information from the Central Energy Fund(CEF) is pointing to another increment in the next month.
The CEF data indicated a petrol price increment of between 44 and 53 cents per litre is looming in November if current market conditions are stagnant.
Diesel drivers have been fared far worse, with global demand and worry over supply driving the price up,which in return will be regarded as a sour note for consumers as most goods in the country are transported by diesel trucks.In a nutshell,higher prices for diesel invariably mean higher prices for basic goods required by most families.
Unfortunately,CEF data also indicates that diesel drivers are in for a massive increase in November, showing a possible hike of between R1.61 and R1.64 a litre.
