These predictions are handed to us hot off the proverbial press from the Central Energy Fund (CEF). Today, the latest fuel snapshot from CEF indicates a decrease for all petroleum-based fuels for April.

‘I’ll have another decrease, please’

Before we get to the important petrol price numbers, it’s worth remembering that these predictions are still that – predictions. They aren’t set in stone just yet. That’s up to the Department of Mineral Resources and Energy (DMRE) before the first Wednesday of every month, and a lot could happen between now and the 2nd of April.

In the meantime, the CEF will continue to spit out these predictions and we’ll keep relaying them to you so you can plan your petrol spend accordingly. You could even try predicting the changes yourself by keeping track of the Rand/US Dollar exchange rate and the price of unrefined oil globally, but that feels like a lot of work. Anyway…

Here are the diesel and petrol price predictions (so far) for April 2025:

• Petrol 93: decrease of 82 cents per litre (R0.82)
• Petrol 95: decrease of 95 cents per litre (R0.95)
• Diesel 0.05%: decrease of 83 cents per litre (R0.83)
• Diesel 0.005%: decrease of 85 cents per litre (R0.85)
• Illuminating Paraffin: decrease of 79 cents per litre (R0.79)

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It’s still worth noting – because sometimes panic causes people to miss important bits of info – that while these updated figures are official, they’re still only predictions from the Central Energy Fund’s (CEF) data. There’s still time for them to change between now and 6 September, when the Department of Mineral Resources and Energy will set South Africa’s official fuel prices for September.

Unfortunately, the CEF hasn’t often veered far from its predictions in the past so we’ll likely need nothing short of a miracle to dodge the incoming increases across the board. A large, sudden drop in the Rand/Dollar exchange rate would help. But that isn’t looking likely, with the way things currently stand.

Anyone checked the price of horses lately?

With these expected increases, it might be time to seek alternative modes of transportation. If anyone knows a good horse breeder in the Gauteng area, share the details in the comments section below so that we can, uh… review them. Otherwise, these shoes stylishly separate each toe for increased dexterity and grip (we think) and should last at least a month of walking. Anything to avoid paying the new prices at the pump.

Anyway, here are the predicted fuel price increases:

• Petrol 93: increase of 156 cents per litre (R1.55)
• Petrol 95: increase of 160 cents per litre (R1.60)
• Diesel 0.05%: increase of 274 cents per litre (R2.74)
• Diesel 0.005%: increase of 270 cents per litre (R2.70)
• Illuminating Paraffin: increase of 270 cents per litre (R2.70)

Source

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Fortunately, The Department of Mineral Resources and Energy has published its changes a little earlier than usual, giving those who need it, time to prepare. Let’s just say… it won’t be the country’s petrol drivers that need to prepare.

If you’re curious as to how The Department of Mineral Resources and Energy decides the country’s petrol prices each month, it’s a similar process to that of the Central Energy Fund’s (CEF) petrol predictions throughout any given month. It involves looking at the average price of petrol, diesel and illuminating paraffin overseas, and the Rand/Dollar exchange used to buy it.

Read More: First Drive: Suzuki Grand Vitara Hybrid – Adding a level of grandeur

Good news, everyone petrol drivers!

From 00:01 on the morning of Wednesday, 5 July, petroleum-based fuels will see the following decreases:

• Petrol 93: decrease of 24 cents per litre (R0.24)
• Petrol 95: decrease of 17 cents per litre (R0.17)
• Diesel 0.05%: increase of 18 cents per litre (R0.18)
• Diesel 0.005%: increase of 12 cents per litre (R0.12)
• Illuminating Paraffin: decrease of 4 cents per litre (R0.04)

Oh, buck up, diesel drivers. If we’re considering the Department’s history, an 18c and 12c increase is relatively tame. Should the Rand continue to appreciate against the dollar – as it did in June – we could see a decrease for both petrol and diesel. Or, you know, Eskom could bring back load shedding and ruin everyth- oh.

Source

The post July’s official petrol and diesel prices are in (and it’s bad news for diesel drivers) appeared first on Stuff South Africa.

For whom the bell e-tolls

Outa head Wayne Duvenage expressed concern that South Africa’s government would bump fuel levies by up to 30c per litre in order to fund e-tolls. The SANRAL-operated project has faced severe opposition from the public since the scheme rolled out.

Transport minister Mbalula previously said that the government’s plans for the fate of e-tolls would turn up in October. This is the same time finance minister Enoch Gondongwana’s medium-term policy statement is expected. If government was going to announce a fuel levy increase, this is where it would happen. Mbalula has said that there’s no sign that this is about to take place.

“There is no reason to be alarmist on possible pronouncements on the government’s decision on the funding of the Gauteng Freeway Improvement Project. I urge everyone to await the formal pronouncements and not engage in speculation that offers no solution to our challenges,” he said.

If you’re paying attention, it’s not a complete denial that e-tolls will be funded by a permanent petrol price increase. But it suggests that maybe folks are getting a little overexcited.

Source: BusinessTech

The post No signs that govt will increase fuel levy to pay for e-tolls – Transport minister appeared first on Stuff South Africa.

FNB has been working on making the feature as easy as possible to use. To earn back eBucks, qualifying customers must do their business at Engen and use their virtual FNB cards to pay (for something else) at least once a month. Your car must also be loaded onto FNB’s app before you’re eligible. FNB’s virtual card can be linked with all the major virtual wallets, such as Apple Pay, Samsung Pay, Fitbit Pay, and Garmin Pay.

This might sound like a lot to do. It can feel overwhelming. Some customers could avoid the feature because it seems like an effort to set up. In actuality, it’s simple. Just follow the steps below for your preferred method of payment, and start earning those eBucks.

Make a few quick eBucks

There are various options to pay, off of which are variations on using a virtual card. You can use your virtual card or Scan to Pay, which lets customers pay by scanning a QR code. There’s also the option to pay by tapping a smartphone or smartwatch if that’s more your speed.

Before loading a virtual card, you must first register your car on the FNB app to qualify for the promotion. Then, there are various setups for getting FNB’s virtual banking kit on your device. It’ll depend, obviously, on what you have.

To do all of this, just follow these steps (device-dependent, obvs.):

How to load your car on nav» Car

• Open the FNB App and log in.
• Select nav, then ‘nav-igate life’ on the Home Screen.
• Select nav, then Car.
• Select ‘My Garage’.
• Select ‘Add a vehicle’.
• Follow the instructions to finish adding your car.

Loading a virtual card on Apple Pay

• Log into the FNB App.
• Select ‘Cards’.
• Select your Virtual Card.
• Click on ‘Add to Apple Wallet’.
• Continue and add your details as instructed – then you should be good to go.

Using Apple Pay

• Double click the side button on your iPhone to open Apple Pay.
• Unlock with either biometrics or your passcode.
• Hold the top of the phone near the POS device – usually just a card machine – and voila.
• A PIN is not required.

Load your virtual card for Tap to Pay on an Android device

To use Tap to Pay on an Android, the Android device in question must support NFC. Just a heads-up.

• Open the FNB app, and log in.
• Click on ‘Payments’ > Click ‘FNB Pay’ > Click ‘Tap to Pay’.
• Click on ‘Register’ near the bottom right.
• Choose a virtual card, and select it to be the default card (bottom of the screen).
• Click ‘continue’ and confirm the cards you’re looking to register.
• Wait a moment, and registration should complete shortly.

How to pay using a Virtual Card using an Android

• Make sure your Android has NFC turned on.
• Unlock your smartphone, pattern, password, facial recognition, etc.
• Tap the unlocked phone on the POS device and hold for a few seconds.
• A push notification will arrive once the payment is successful. Your phone will also vibrate.
• For payments over a certain amount, you may need to enter your PIN on the card machine (You use your virtual card PIN for this. It is found on the FNB App, under ‘Cards’ > ‘Virtual card’ > ‘Manage pin’)

Read More: FNB is testing contactless payment options at toll gates

Scanning a QR code to pay – Android and iOS

• Open the FNB app and log in.
• Click on ‘Scan to Pay’ from the Home Screen.
• Alternatively, go to ‘Payments’ and then FNB Pay and then ‘Scan to Pay’.
• Scan the merchant QR Code that applies to you.
• Select which Virtual Card you’d like to use (in case you have multiple).
• Enter the transaction amount.
• Confirm the transaction.

It’s as easy as that. If you’re a qualifying eBucks customer, get this done as soon as you possibly can. It’s free money. Well, eBucks. Once you’ve earned back enough eBucks, go and check out the rewards section that FNB offers. Might as well get a little something back from your fuel spend.

The post How to use FNB’s virtual cards to get an extra R2 per litre of petrol back in eBucks appeared first on Stuff South Africa.

Increases in the domestic price of fuel are big news in South Africa, with the price of petrol, diesel and paraffin reaching new highs. The underlying reason for the price increases is movements in the international price of crude oil. The acceleration in the international price of crude oil is linked to the Russian war in the Ukraine.

The expectation is that the crude oil price will remain at an elevated level for the duration of the war.

Internationally, crude oil is priced in US dollar per barrel. Recently the price exceeded US$120 per barrel. This is not the highest level ever for the crude oil price. The highest ever nominal historic level of US$147.02 per barrel was reached on 11 July 2008. On that occasion the price of crude oil increased owing to military tension about Iran. Adjusted for inflation since 2008, this amounts to some US$200 per dollar in current values. There is therefore room for further increases in the price of crude oil.

The crude oil price in US dollar is determined by international forces of supply and demand.

The international oil price pressure leads to higher landed cost for fuel in South Africa. The landed cost in US dollars is converted to rand at the prevailing exchange rate. Any weakness in the rand exchange rate against the US dollar therefore results in a higher domestic petrol price.

Political and economic stability to ensure a stable (or even appreciating) exchange rate is therefore of the utmost importance in the strategy to contain the domestic fuel price.

Once the domestic base price for fuel is determined, a variety of levies, taxes and margins are added to calculate the pump price that the consumer pays. In an attempt to alleviate the impact of the increase in fuel prices, the government has waived some portion of the fuel (tax) levy as a temporary relief measure.

However, this cannot be done on a permanent basis, given the precarious fiscal position of the government. Any permanent reduction in the government’s fuel levy will necessitate an increase in other taxes raised by the government.

There is, however, one charge in the cost structure of the fuel price that can be reconsidered. This is the merchant service fee banks charge for the use of debit and credit cards. Admittedly, any reduction in this fee will impact negatively on the gross revenue of banks, but will also reduce the cost of filling station operations.

What goes into the fuel price

The fuel levies include transport to inland provinces, thus explaining the difference in the fuel price between coastal and inland regions. These levies are fixed and subject to periodic revision.

The most important  are government’s fuel levy (about 20% of the retail price) and the road accident fund levy (about 11%). These levies apply to both petrol and diesel.

Another important levy is the gross margin allowed for filling station operators. This levy amounts to some 10% of the retail price of petrol, while it is determined through retail price setting per filling station in the case of diesel sales. Filling station operators determine their gross margin on their diesel sales, as only the wholesale price is regulated.

To soften the blow of higher fuel prices for consumers, the South African government decided to waive some portion of the fuel levy as a temporary relief measure. However, this measure is not sustainable, as government revenue is eroded.

The retail levy on petrol accruing to the operators of filling stations is currently R2.29 per litre. But this is not the profit per litre of petrol sold at retail level.

This retail levy of R2.29 includes 87c per litre for the remuneration of pump attendants and other administrative staff members at filling stations. South Africa has about 5,000 filling stations where some 60,000 pump attendants are employed. In addition, it is estimated that these filling stations employ some 15,000 to 20,000 administrative staff members.

If the petrol price is deregulated and the margin for the remuneration of these staff members is removed, South Africa might lose as many as 80,000 job opportunities. Given South Africa’s official unemployment rate of 34.5% , this increase in unemployment can’t be afforded. In addition, the cancellation of this wage levy on petrol will reduce the price by only about 3.6%.

The retail levy also provides for site rental of filling stations in instances where sites are not owned by the operators. After the deduction of the rental allowance of 75c per litre and the allowance of 87c per litre for staff costs, site operators are left with 67c per litre. This is their gross revenue and is used to cover other costs such as municipal services, bank charges, other overheads and professional fees. Whatever remains, is the net income of the fuel station operator.

One important cost item that is not provided for sufficiently in the fuel levy structure, is the merchant service fee charges of the financial services industry on payment for fuel by credit and debit cards. Until 2009, South Africa allowed fuel sales only by means of cash or debit card, but this changed with the addition of credit cards as a payment instrument for fuel as one of the preparatory measures for the country’s hosting of the World Soccer Cup.

The use of debit and credit cards comes at a cost for fuel station operators. This merchant service fee differs for debit and credit cards, and also differs between banks and card service providers. On debit cards the merchant service fee is in excess of 0,5% of the transaction value, or more than 12c per litre. On credit cards this fee amounts to as much as 1,75% of the transaction value (credit card interchange plus bank commission), or some 42,3c per litre at inland filling stations.

This merchant service fee is also the only component in the fuel retail value chain that increases automatically when the fuel price increases, as was the case in recent months.

Admittedly, this fee will also decrease when the fuel price declines.

In the quest to find alternatives to reduce the retail price of fuel, one strategy is a revision of this “invisible” fuel levy charged in the form of the merchant service fee.

• Jannie Rossouw is a Visiting Professor at the Business School, University of the Witwatersrand
• This article first appeared on The Conversation

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The data captured on 14 June tells us that we could have a R2.03 increase for petrol, while diesel prices are showing signs of an under recovery of R1.28.

The mid-month snapshot is as follows:

• Petrol 95: increase of 203 cents per litre;
• Petrol 93: increase of 186 cents per litre;
• Diesel 0.05%: under-recovery of 128 cents per litre;
• Diesel 0.005%: under-recovery of 128 cents per litre;
• Illuminating Paraffin: increase of 153 cents per litre.

The worst is yet to come

The Department of Energy wants to make sure we know these snapshots are not a true representation of the final numbers. These snapshots don’t cover other factors such as slate levy adjustments and retail margin changes. These are only finalized at the end of the month by the Department of Energy.

Once the end of the month draws close, the Department will take all the changing factors into consideration, which could alter the prices significantly one way or another.

While these numbers cannot be trusted fully, we can look at past months to see that an increase of this magnitude is something the Department could implement at the drop of a hat. Just this year alone, South Africans have faced a 20% increase on petrol. And the worst part is, prices are going to continue rising.

At the moment, South Africa has a tax break on fuel. That little ‘holiday’ will be coming to end in August. The tax break was meant to end a few months ago, before the government heard the people’s pleas to extend it. And extend the tax break they did. Kind of.

Pumping the prices up

If the expected increases do take place, we could be looking at a R25 per litre deal.

For a full list of expected prices, see below;

Table made by BusinessTech

We’ll have to wait and see once the end of the month arrives to see the true prices, but this gives us a good idea of what to expect.

To try and counter the ever-increasing fuel prices, the University of Stellenbosch and a few others are soon going to be testing the viability of an ‘electric taxi’ for South Africa.

Source: BusinessTech

The post Petrol prices could touch R25 per litre in July appeared first on Stuff South Africa.

From 6 April — so next Wednesday, when the petrol price is likely to go up — South Africa’s fuel levy will be dropped by 40%. This tax break will remain in effect until the end of May. SA’s finance minister Enoch Godongwana made the announcement while addressing parliament on 31 March.

So the petrol price is dropping?

Well… ‘dropping’ is a strong word. Minister Enoch Godongwana confirmed that the general fuel level will be temporarily trimmed by 40%. That’ll drop the amount the levy scrapes off every litre of petrol and diesel by R1.50. The effect will be to cut fuel prices overall by R1.50 a litre. But…!

For most of the month of March, petrol costs in South Africa were expected to increase by R2/litre or more. Even with a revised outlook that predicts petrol ‘only’ increasing by about R1.84/litre, the government’s intervention will still lead to a minor price increase for the month of April. In the region of 35 cents (petrol) to R1.50 (diesel), if current predictions stay on target.

Godongwana also said that the government was considering several other measures that could lower fuel costs. A reduction of the Basic Fuel Price (by 3c/litre), cancellation of the  Demand Side Management Levy (10c/litre) for petrol sold inland, a cap on the price of 93 octane petrol that could lead to lower prices, and an examination of how the Regulatory Accounting System could offer further adjustments are all being considered.  These would be implemented after the general fuel levy break concludes.

Source: BusinessTech

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