Fuel-price drop setback, AA warns

Renewed oil price strength and a turnaround in the rand/US dollar exchange rate have put the brakes on the substantial drops in fuel prices suggested by mid-August data, reports the Lowvelder.

This is according to the Automobile Association (AA), which was commenting on unaudited end-August fuel price data released by the Central Energy Fund (CEF).

“International petroleum prices have put in a surprising rally since the middle of the month,” the AA said.

It noted that a stronger rand would have cushioned this increase in international petroleum prices. In mid-August, when the rand was at stronger levels, the AA predicted that petrol would drop by up to 69 cents a litre, diesel by 94 cents a litre, and illuminating paraffin by about 92 cents a litre.

The association said it expected petrol to fall by about 25 cents a litre, diesel by 54 cents, and illuminating paraffin by 54 cents.

“The stronger oil price might have been kept in check more effectively had the rand not sagged so sharply against the dollar in the wake of developments around the minister of finance, Pravin Gordhan, being the subject of further investigation by the Hawks,” the AA said.

It further noted that the impact on fuel prices of the significant devaluation of the rand against the US dollar would be noticeable towards the middle and end of September. – Caxton News Service

Years ago, Sasol abandoned its plans to build on this piece of land following a fierce battle between environmental, sustainability and geopolitical consultant Nicole Barlow and developer Petro-Props.

Following the decision back in 2006 from Sasol to stop pursuing its intention of developing the station, Petro-Props served notice on Barlow to stop making public all the problems surrounding the development on the wetland.

But the high court at the time dismissed Petro-Props’ application with costs.

Now, it seems Barlow is again embroiled in another battle, this time apparently with British Petroleum (BP) to prevent the building of a petrol station on the same wetland.

Barlow has written to Bob Dudley, group chief executive of BP Global, informing him of her plans to stop BP’s move at all costs. – Caxton News Service