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It is official, the price of fuel in South Africa will go up next week Wednesday (3 October). The Department of Minerals and Energy announced this a few hours ago.
The retail price of 91 unleaded and 93 unleaded and lead replacement petrol will rise by 9 cents a litre. 95 unleaded and lead replacement petrol will increase by 10 cents a litre. All grades of diesel will rise by 23 cents a litre.
We having been talking about this potential rise for the last few days and it has finally happend now. Let us hope that this is the last of the price rises in a while.
Wherever you go today in South Africa you are sure to find some form of construction, either a house, a residential complex, a business building, roads or sport stadiums. There is construction going on everywhere.
Seeing so much construction taking place goes to show that the country is progressing well as this is a clear sign of a booming economy with so much infrastructual development happening. But one major drawback during this construction boom has been the shortage of cement in South Africa. Read the rest of this entry »
Producer price inflation (PPI) slowed to 9.4% year-on-year last month, below forecasts, after a 10.3% increase in July. On a monthly basis, PPI increased by 0.7% in August after a 1.6% rise in July. Definitly a good sign for the economy.
Economists did not expect this as the inflation number came below their expectations. It is encouraging to see that the PPI has slowed down but will this be the same case for the month of September, where we have seen world oil prices rising and a likely fuel price increase in South Africa next week? And not to forget the potential electricity rate hikes in the near future. Read the rest of this entry »
It looks like the fuel price could be going up again next week according to some economists in South Africa. They predict that petrol will go up by 12 cents a litre, diesel and paraffin could go up by 16 cents a litre.
With the inflation figures coming out yesterday showing a slight drop in the CPIX rate, a rise in fuel prices could signal a further rise in September’s inflation figures. The main contributing factors to a rise in fuel prices would be the higher world oil prices and the volatility of the Rand. Read the rest of this entry »
Figures released earlier today showed that inflation (CPIX) in South Africa slowed down from 6.5% in the year to July to 6.3% in August. But this still remained above the central bank’s target of having inflation between 3% and 6%.
With the figures not meeting the central bank’s target, this means that we may have yet another interest rate hike in South Africa next month.
After the success of Monday’s National Braai day, I wonder why South Africa has not had this day before as it was a very enjoyable day with people celebrating South Africa’s favourite pastime, braaing.
On the actual day (Monday), I went to my local supermarket in the morning and saw almost ten people at one time buying braai stands and there was a lot of activity in the supermarket’s section where all the braaing utensils are sold, most notably charcoal. I do not think the supermarket had anticipated such a large demand as when I went back to the supermarket in the evening they had run out of charcoal.
The long wait seems to finally be over now as the Lotto is back in South Africa. It is reported that ticket sales would start in the next two weeks and the first draw should hopefully be conducted before the end of October.
The lotto had stopped to operate in South Africa since April 1 this year due to the operators licence expiring. The Gidani consortium would now be operating the lottery. The delay in awarding the consortium the licence to operate the lottery was due to the authorities taking a long time to review the legal process in awarding the consortium the licence. Directors and shareholders of the consortium all had to be reviewed to find out if they are all ‘clean’.
