Our social development programs are too focused on welfarism and too little on healing the social pain that is overwhelming so many, writes Mamphela Ramphele.
When margins, retail income and distribution cost are included, 55% of the fuel price is unrelated to the oil price itself.
Higher global oil prices caused by an attack on a major Saudi oil installation are filtering through to the pockets of SA motorists.
As from Wednesday, petrol will be increasing by 11c per litre for both 93 and 95, while diesel will be increasing by 26c per litre, Minister of Mineral Resources and Energy Gwede Mantashe has said.
Inflation for July eased to 4%. However, the SA Reserve Bank is likely to maintain a cautious stance before deciding to implement a rate cut, given the risk of a rating downgrade which still looms large.
High oil prices have seen rising petrol prices globally, and for already cash-strapped South African motorists, there appears to be no end in sight.
While the Rand has won ground against the US dollar in July, international oil prices have increased, offsetting the Rand's gains.
Zimbabwe has announced a massive fuel price hike after the country's central bank said it would no longer provide fuel dealers with funding for petrol and diesel.
'The overall picture is of little change,' the AA said on Wednesday, after reviewing unaudited mid-month fuel price data released by the Central Energy Fund.
The Department of Energy has announced an increase of 54 cents a litre for 93 and 95 octane unleaded petrol for the month of May.
The possibility of a hard fuel price ceiling was mooted by Energy Minister Jeff Radebe in mid-October 2018, as a cushion against escalating prices.
Motorists should prepare themselves for another hike in fuel prices this coming October.
Petrol prices have increased by 15% so far this year.
Weakness in the rand is expected to drive a fuel price spike in September, the Automobile Association has said.
The Congress of South African Trade Unions has hit back at critics of the Administrative Adjudication of Road Traffic Offences Amendment Act, saying it is both a "progressive" and "draconian" move to curb the economic and human cost of traffic accidents.
Based on the current data, the price of petrol could increase by up to ten cents a litre in September, says the Automobile Association. And there may be worse to come.
While the petrol price may be headed for a 10c a litre drop in in June, the new carbon tax on fuel of nine cents per litre is expected to cancel out the decrease, according to a projection by the AA.
With fluctuating fuel prices, every car owner is looking for smarter ways to cut down on the fuel costs when traveling.
As South African motorists reel from ongoing petrol price hikes we look at fuel prices around the world.
Higher fuel prices have driven up March inflation, and economists expect inflation to tick up even more in coming months.
All grades of petrol and diesel will climb by up to R1.34c/l come Wednesday April, 3.
Cape Town Northern SuburbsPlacement Point (Pty) LtdR420 000.00 - R480 000.00 Per Year
Western CapeLiberty Financial Advisers
Western CapeThe Building Company
Apartments / Flats
R 2 495 000
R 4 899 000
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