Tag: fuel price

Week after week, there is always a petrol price hike threat to consumers in South Africa. Over a period of 10 years, the petrol price has fluctuated, increasing by a whopping 66% from R9,66 to R16,08. In the last 8 months of 2018, the price has increased from R14,42 to R16,08 inland.

The price hikes in 2018 alone placed a strain on the consumers and prompted the public outcry that led to the subsequent intervention by the government. The Department of Energy intervened after the Automobile Association (AA) of South Africa anticipated a drastic 23c to 25c per litre fuel price increase for the 5th of September 2018. The intervention led to the fuel price only increasing by 4.5c per litre.

According to Central Energy Fund calculations, local consumers could be hit by another bombshell as early indicators are that the fuel price could rise by R1.14 a litre in October. Making matters worse is the shock of the recession and the threat of downgrades by rating agencies.

OLX believes this directly affect more than three thirds of their users. “While OLX prides itself for making it super easy to buy and sell almost anything, our main source of traffic is price-conscious car buyers,” says Diana Mjojo, Communications Manager at OLX South Africa. “With the fuel prices going up again, this is a trend we don’t see coming to an end any time soon and we’re concerned about how it affects our users.”

9 out of the top 10 search terms for 2018 on the OLX platform are for the Cars & Bakkies category. According to the company, the OLX car buyer is financially savvy. They are willing to accept higher mileage vehicles if it means the price of the vehicle is lower.

Mjojo says OLX users are willing to save as much money as possible during these economically hard times. “Users will often pick the practical option over luxury, which may include older models, if it means the vehicles are cheaper. Not only are they conscious about the price of the vehicle but about the petrol consumption as well,” says Mjojo.

OLX advises consumers who aren’t already buying their cars on the platform to consider doing so as that is a smart way to save and set yourself economically free. “Whether you are looking for your first car, need a car to match your muscles or upgrading, OLX is a central place for you. We work with car dealerships that list their approved cars on the platform,” adds Mjojo.

Source: The Citizen

The Democratic Alliance says the department of energy’s no-show at a parliamentary meeting on fuel hikes is ‘disrespectful’ to people struggling with the high cost of living.

Davis was reacting to Energy Minister Jeff Radebe and his department’s failure to pitch for a meeting with MPs about fuel hikes.

“Minister Radebe and the energy department’s failure to turn up at an energy portfolio committee meeting on the petrol price is the clearest indication yet that government has no plan to deal with escalating fuel costs.

“This no-show by a government delegation was disrespectful to parliament and, more importantly, disrespectful to the millions of South Africans who are struggling with the high cost of living,” he said.

Davis said Radebe was supposed to communicate on the petrol price in the second week of July, but he had said nothing.

“This was his opportunity to offer South Africans hope that government had a plan to cushion the blow of high fuel costs. The minister has an opportunity to prove us wrong by appearing before the committee next Tuesday and presenting a credible plan to bring down the price of petrol,” he said.

Earlier on Tuesday, chairperson of the portfolio committee on energy Fikile Majola also slammed Radebe’s department for what he described as a “boycott” of the meeting.

Majola said the minister would be summoned to parliament next week to explain the department’s failure to attend the meeting.

Petrol price has increased from R13.76 in March to R16.02 in July.

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My Office News Ⓒ 2017 - Designed by A Collective


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