Latest news with #LeboRamolahloane
The Citizen
03-07-2025
- Business
- The Citizen
Petrol and diesel prices rise sharply as Middle East tensions impact global oil
Concerns over an increase in the fuel price have been realised with the Department of Mineral and Petroleum Resources confirming a notable fuel price increase effective today (July 2). This marks the first upward adjustment in four months, potentially a sign of a shifting trend for motorists and businesses. Commenting on the development, Lebo Ramolahloane, national vice chairperson of the South African Petroleum Retailers Association (SAPRA) – an association of the Retail Motor Industry Organisation (RMI) – said the adjustment is largely due to average global oil prices and exchange rate movements during June. 'Global tensions between the warring parties in the Middle East have contributed to short-term volatility in oil markets, which in turn has impacted the monthly average of Brent crude and the rand/dollar exchange rate. 'This was reflected in the resultant under-recoveries that built up throughout June, increasing prices at our fuel pumps.' He explained the price adjustments come despite a significant easing in Brent crude prices in the latter half of June, with the monthly average still resulting in under-recoveries. 'The rand also showed some resilience but was not strong enough to counter the cumulative impact of earlier market volatility. 'The spike in diesel prices is especially concerning, as it affects both logistics and agriculture, key pillars of our economy. 'For petroleum retailers, the volatility adds further complexity to already tight margins.' Ramolahloane added that while the current increase is disappointing, there may be some light on the horizon. 'If the ceasefire between Iran and Israel holds and tensions in the Middle East continue to ease, coupled with the recent weakening of the dollar and a further drop in international oil prices, there is a possibility that motorists could see a welcome fuel price decrease again in the coming month.' Fuel price adjustments from July 2: Petrol (Gauteng and Coastal) • 93 ULP & LRP: 55.00 c/litre increase • 95 ULP & LRP: 52.00 c/litre increase Diesel (Gauteng and Coastal) • 0.05% Sulphur: 82.00 c/litre increase • 0.005% Sulphur: 84.00 c/litre increase Illuminating paraffin • Wholesale: 67.00 c/litre increase • SMNRP: 89.00 c/litre increase LPG • Retail: 57.00 c/kg decrease At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
The Citizen
03-07-2025
- Automotive
- The Citizen
July diesel spike concerning for ‘key pillars of economy', says petroleum association
July diesel spike concerning for 'key pillars of economy', says petroleum association While undoubtedly affecting motorists across the board, Wednesday's fuel price hike is especially concerning for logistics and agriculture, key pillars of South Africa's economy. This was the sentiment of the South African Petroleum Retailers' Association (SAPRA), saying, 'the volatility adds further complexity to already tight margins'. ALSO READ: Fuel price hike anticipated this July Wednesday saw the price of diesel 500ppm rise from R18.53 to R19.35 (82c/litre increase); diesel 50ppm from R18.57 to R19.41 (84c/litre increase); petrol unleaded 93 from R21.24 to R21.79 (55c/litre increase), and petrol unleaded 95 from R21.35 to R21.87 (52c/litre increase). This is the first increase to the price of fuel after a four-month reprieve. SAPRA national vice-chairperson Lebo Ramolahloane said the adjustment is largely due to average global oil prices and exchange rate movements during June. 'Global tensions between the warring parties in the Middle East have contributed to short-term volatility in oil markets which, in turn, has impacted the monthly average of Brent crude and the rand/dollar exchange rate. 'This reflected in the resultant under recoveries that built up throughout June, increasing prices at our fuel pumps,' said Ramolahloane. Ramolahloane says, while the current increase is disappointing, there may be some light on the horizon. 'If the ceasefire between Iran and Israel holds and tensions in the Middle East continue to ease, coupled with the recent weakening of the dollar and a further drop in international oil prices, there is a possibility that motorists could see a welcome fuel price decrease in the coming month,' he concludes. Don't have the ZO app? Download it to your Android or Apple device here: HAVE YOUR SAY Like our Facebook page and follow us on Twitter. For news straight to your phone invite us: WhatsApp – 060 784 2695 Instagram – zululand_observer At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
The Citizen
06-05-2025
- Business
- The Citizen
Fuel prices go down at midnight
Motorists in Merafong can also get a bit of relief as the Department of Mineral and Petroleum Resources has confirmed a third consecutive monthly decrease in fuel prices, which will become effective at midnight tonight. 'The reductions offer much-needed relief during a challenging economic period,' says Lebo Ramolahloane, National Vice Chairperson of SAPRA (the South African Petroleum Retailers Association). Although the prices of petrol, diesel and paraffin will decrease, that of gas is increasing. Here are the adjustments that will be effective from midnight: Petrol: 93 ULP & LRP: decrease 22.00 c/litre 95 ULP & LRP: decrease 22.00 c/litre Diesel: 0.05% Sulphur: decrease 42.00 c/litre 0.005% Sulphur: decrease 41.00 c/litre Illuminating paraffin: Wholesale: decrease 31.00 c/litre SMNRP: decrease 41.00 c/litre LPG (Liquefied Petroleum Gas): Maximum Retail Price: increase 46.00 c/kg 'The decrease in petrol, diesel, and illuminating paraffin prices provides immediate relief to South African motorists and businesses. In a fragile economy such as ours, this is a welcomed development that could ease inflationary pressures and provide a short-term boost in consumer spending power,' said Ramolahloane. With petrol down by 22 cents and diesel by up to 42 cents, the impact is tangible. LPG gas will be the only one to show a 46 cents per kilogram increase. 'For example, a motorist filling a 50-litre tank of 95 unleaded petrol will now save approximately R11 per fill. Diesel users, particularly in logistics and agriculture, stand to benefit from reductions of over R20 per tank,' he says. Ramolahloane says these lower input costs can support food security and job retention in fuel-intensive sectors such as agriculture, logistics, and public transport. 'For petroleum retailers, the increased volumes at service stations from consumers responding to lower pump prices are likely to provide a boost in revenue, particularly as retail margins remain stable.' The global oil market is being influenced by geopolitical factors, notably the recent escalation in trade tensions between the United States and China. The re-imposition of tariffs by the U.S. has disrupted oil demand, especially from China – a major Brent crude importer – leading to excess supply and driving down prices. 'While we welcome the current decline in prices, we must remain cautiously optimistic. Global market volatility and local political uncertainty under the newly formed Government of National Unity require close monitoring,' Ramolahloane concludes. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
The Citizen
05-05-2025
- Automotive
- The Citizen
Fuel prices drop: What motorists need to know
Fuel prices drop: What motorists need to know The Department of Mineral and Petroleum Resources has confirmed a third consecutive decrease in fuel prices. The decrease is effective from Wednesday, 7 May, a development welcomed by the South African Petroleum Retailers Association (SAPRA). Commenting on the announcement, SAPRA national vice-chairperson Lebo Ramolahloane said the reductions offer much-needed relief during a challenging economic period. Welcoming the news, the proud association of the Retail Motor Industry Organisation (RMI) said this was a positive step for both motorists and the broader economy. ALSO READ: Five top fuel-saving tips 'The decrease in petrol, diesel and illuminating paraffin prices provides immediate relief to South African motorists and businesses. 'In a fragile economy such as ours, this is a welcome development that could ease inflationary pressures and provide a short-term boost in consumer spending power,' said Ramolahloane. With petrol set to decrease by 22 cents per litre and diesel by up to 42 cents per litre, the impact is tangible. LPG will be the only fuel to show an increase, at 46 cents per kilogram. 'For example, a motorist filling a 50 litre tank of 95 unleaded petrol will now save approximately R11 per fill. Diesel users, particularly in logistics and agriculture, stand to benefit from reductions of over R20 per tank,' he said. Ramolahloane says these lower input costs can support food security and job retention in fuel-intensive sectors such as agriculture, logistics and public transport. 'For petroleum retailers, the increased volumes at service stations from consumers responding to lower pump prices are likely to provide a boost in revenue, particularly as retail margins remain stable,' he added. He noted that the global oil market is being influenced by geopolitical factors, notably the recent escalation in trade tensions between the United States and China. The re-imposition of tariffs by the US has disrupted oil demand, especially from China, a major Brent crude importer, leading to excess supply and driving prices down. 'While we welcome the current decline in prices, we must remain cautiously optimistic. Global market volatility and local political uncertainty under the GNU require close monitoring,' said Ramolahloane. Fuel price adjustments are as follows: PETROL: • 93 ULP & LRP: decrease 22c/litre • 95 ULP & LRP: decrease 22c/litre DIESEL: • 0.05% Sulphur: decrease 42c/litre • 0.005% Sulphur: decrease 41c/litre ILLUMINATING PARAFFIN: • Wholesale: decrease 31c/litre • SMNRP: decrease 41c/litre LPG (Liquefied Petroleum Gas): • Maximum retail price: increase 46c/kg Don't have the ZO app? Download it to your Android or Apple device here: HAVE YOUR SAY Like our Facebook page and follow us on Twitter. For news straight to your phone invite us: WhatsApp – 060 784 2695 Instagram – zululand_observer At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
