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Fuel price: Increase details

2013-06-28 08:07
Petrol, pump

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The Central Energy Fund’s latest fuel price update indicates that we'll have to dig deeper to fill up from July 2013.

Economists predict a jump of close to 90c/litre and that it will take effect at midnight July 3 2013.

'LIVES WILL BE HORRIBLE'

Efficient Group chief economist Dawie Roodt said: “I’m afraid it’s not good news. The petrol price is likely to increase by 80-90c/l in July. "The main reason for that is the recent weakness in the rand. It [the increase] will also add pressure on the inflation rate.”

Group retail specialist for Royale Energy, Peter Noke, expects the hike to be 87c for petrol and 80c for diesel. "The impact on everything in the value chain – from manufacturing to delivery – will be huge. The domino effect of one of the biggest petrol price price rises on people’ lives will be horrible.”

Drivers on the Reef are paying R12.16 for 93 octane and R12.39 for 95. At the coast the prices are R11.96 for 93 and R12.02 for 95.

Economists.co.za's Mike Schüssler, expects a about 90c: “It's clear that ,with the weak rand, inflation is going to pass six or even seven percent. July is going to be a tough month for people because municipal electricity increases usually also happen in this month.”

FUEL PRICE FROM SHELL

A statement to Wheels24 from Shell reads: "The price forecast is based on information as at 13 June 2013 and is based on current price regulation guidelines as stipulated by the Department of Minerals and Energy. This is mainly based on international crude and finished product price movements coupled with prevailing Rand/US dollar exchange rates."

"Unless specifically stated this forecast excludes extraordinary changes requiring Ministerial approval (eg. margins, taxes etc.)

The fuel company released the following fuel price per litre increase set to take effect on Wednesday July 03 2013:

Petrol - 85 - 90c/l  increase
Low Sulphur diesel 0.05%  -  68-74
Ultra Low Sulphur Diesels 0.005% - 68-74c

PUMP-JOCKEY WAGE DEMAND

The announcement comes a week after Wheels24 reported that fuel forecourt attendants were looking for a huge pay rise.
 
The National Union of Metalworkers of SA is in a wage dispute with the auto industry after declaring a dispute because employers had not responded to union demands for at least R6000 a month and a R30-an-hour increase for workers earning more than R6000 a month - which would almost double that amount.


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