Guiding consumers since 2009

Petrol price to go up in July

By Staff Writer
By Angelique Ruzicka, editor, Justmoney
 
 
Motorists are going to be stung with another petrol price increase, which will come into effect on the 2 July. From Wednesday the retail price of petrol will go up by 31 cents a litre while diesel will go up by 14 cents. Illuminating paraffin will increase by 31 cents as well, while the price of gas will jump by 58 cents. 

 
The Department of Energy warned all motorists to continue implementing fuel efficiency measures, such as using public transport and lift clubs whenever possible to save on fuel. 

 
It said the increase in prices of all petroleum products is due to changes in international factors, such as the rise in crude oil prices, the rand/dollar exchange rate and the prices of finished products. The rand has been hard hit against the dollar and depreciated against the American currency from $10.40 to $10.68 during the period under review. 

 
Last month the crude oil price peaked above $115 (R1220) per barrel, which led to an increase in the prices of petrol, diesel, illuminating paraffin and liquefied petroleum gas in the international markets. 

 
Fuel levy to replace e-tolls? 
Separately, the ANC may ditch its controversial decision to toll Gauteng’s freeways and impose a national fuel levy on motorists instead to pay back its R20 billion public infrastructure debt. According to reports, the party is concerned about going into the municipal elections with such a contentious issue as e-tolling hanging over it. 

 
But don’t think the e-toll system is going to be dropped any time soon because investigations into whether it’s a good idea are only just about to start.


During his state of the province address Gauteng Premier Makhura said he would set up a panel “to review the impact of e-tolls and invite new proposals on how we can find a lasting solution to this matter.” The National Roads Agency Limited (Sanral) is also opposed to the idea so only time will tell whether Gauteng’s Premier gets his way. 


For more about how you can save money on fuel, click here

Recent Articles

Featured Financial conflict can lead to divorce – here’s how to prevent it

Talking about money is an intimate matter, and it may be uncomfortable for couples who’ve managed to avoid this discussion. However, it will become necessary at some point or other. Do you think you’re ready to talk to your partner about money?

This is how much you should spend on accommodation

As your salary changes over time, your expenses will change too. But what if you’re spending an exceedingly large percentage of your income on accommodation? Is it feasible or even recommended in our current stressful financial climate?

How to be “future greedy” with passive income

Setting up numerous streams of income is a safe way to protect yourself from the loss of your main stream of income. Better yet, setting up passive streams of income will ensure you always have money coming in, without costing you additional working hours. So, what is “passive income”, and how can you earn this?

Can your debt be cancelled?

It sometimes happens that you struggle so much to pay your debt that you think of asking your creditor to write it off. But debt doesn’t just get written off. There are conditions that must be met and procedures that must be followed before the creditor cancels your debt.

 

Deals

FNB senior customers can earn up to 30% back in eBucks at Clicks

Price: Available on request
When: From 5 August 2020
Where: Nationwide

Bakwena Spa Women’s Day Special

Price: R549 per person
When: Until 31 August 2020
Where: Centurion, Hartbeespoort, Kuils River

Dis-Chem Pap Test Special

Price: R180
When: From 3 August to 11 September 2020
Where: Nationwide


Latest Guide

Guide to debt rehabilitation solutions