Petrol price expected to rise by up to 80 cents a litre

[James]

Consumers may be in for a hard time as the petrol price is expected to rise by up to 80 cents a litre next month, an economist said on Friday.

Lulu Krugel, economist at KPMG, said the international oil price had been rising and the rand weakening, hence the fuel hike was inevitable.

"If we look at the under-recovery where we are now on 87 cents for petrol, that means we'll probably see around 87 cents increase in petrol if things stay the way that they are for the rest...read more here: Petrol price expected to rise by up to 80 cents a litre

 

[HavocXphere]

if things stay the way that they are for the rest of the month,

Bit early for freakin out isn't it? Over & under recovery fluctuates daily, so calling is 15 days ahead is a bit over-dramatic.

 

[McT]

Bit early for freakin out isn't it? Over & under recovery fluctuates daily, so calling is 15 days ahead is a bit over-dramatic.

It's a definite increase. Huge too from all accounts. The price is determined from over/under recovery and the price we get on the first Wednesday is pretty much a done deal from about 45 to 15 days before D-Day. Unfortunately both the dollar strength and oil price are against us

 

[Venom]

M@#$#@%%#$$@^&$@$^^@$&&&&&&&&&@@^$^$
fffffffffffffffjuyhtgojh(h^ygtgtgyhyhuhygr^&*%t%*&^t*^g

f%^%k

 

[HavocXphere]

It's a definite increase. Huge too from all accounts. The price is determined from over/under recovery and the price we get on the first Wednesday is pretty much a done deal from about 45 to 15 days before D-Day. Unfortunately both the dollar strength and oil price are against us

hmmm I didn't realize the increase lags behind the movements so much. Oh well...less profit on travel claims I guess.

 

[McT]

hmmm I didn't realize the increase lags behind the movements so much. Oh well...less profit on travel claims I guess.

Surely that should be adjusted to keep pace with inflation?

 

[HavocXphere]

Surely that should be adjusted to keep pace with inflation?

The gov just doesn't want a billion Rand exposure just because the Rand crapped itself. If its a couple of million off then nobody cares. One way or the other, the money flows out of SA regardless of what they do with the petrol price, so in the greater scheme of things it doesn't matter whether they balance things perfectly.

Also, any imperfections in the balancing flow into the next month, so its always sorta right, but never 100% right.

Also...inflation...who's inflation? SA inflation? Saudi inflation? In truth its nobody's inflation, but rather oil & Rand/USD. Rand/USD in turn is linked to both ZA and US inflation.

 

[Graal]

And with that food prices rise as well, then when petrol drops again, food prices stay the same, just to rise again when petrol goes back up again.

 

[Dohc-WP]

And with that food prices rise as well, then when petrol drops again, food prices stay the same, just to rise again when petrol goes back up again.

 

[czc]

And with that food prices rise as well, then when petrol drops again, food prices stay the same, just to rise again when petrol goes back up again.

But I like eating more than I like driving!

 

[DurbanMonkey]

And with that food prices rise as well, then when petrol drops again, food prices stay the same, just to rise again when petrol goes back up again.

which the govt is fully aware of but don't say / nor do anything about it as they are collecting on the taxes from it.

 

[JP'S]

which the govt is fully aware of but don't say / nor do anything about it as they are collecting on the taxes from it.

And in turn use those taxes as spending money and renovating office's. I hate the government