CEF (Pty) Ltd.

So brace for this.

Early data from the Central Energy Fund now points to two rand a litre more on 95 unleaded in October.

That would put Gauteng at about 28 rand 92 cents a litre past the record that it's set in June.

Now to make this as simple as possible, how much of an offshore price reaches your tank depends on how much fuel we refine ourselves.

Our finance minister told Parliament in writing that government can't fully insulate consumers from a sustained oil price rise when the country is a net importer.

So the answer that government has said to offer here is endurban.

So on Wednesday, the Central Energy Fund sets out this three-phase plan to refine crude again at SAPREF, the... mothballed site that it bought from Shell and BP for one rand in 2024.

It's named No Funder, No Dates, and with that in mind, the October price change is three weeks out.

So I'm looking at a report in Business Day today.

The Central Energy Fund has set out a three-phase plan to revive refining at the former South African petroleum refinery Sapref site in Durban.

They're going to look at using the existing storage and transfer infrastructure and eventually the hope to move towards getting the refinery up and running again.

I think it's fair to say the Central Energy Fund has not had a particularly distinguished record.

I mean, is this a light at the end of the tunnel or is it a red flag?

Okay, so to a large degree, I think it basically is going to literally refer directly to how much we have in reserve and how long our reserves can hold out to kind of dampen the flows.

We start to move away, uh, from oil in some ways.

The Central Energy Fund today saying that it's gonna restart the Sapref Refinery in Durban.

Uh, it was really sort of, you know, closed in twenty twenty-two after the big flooding there.

I'm not entirely sure why it wasn't reopened.