Fuel prices surge as govt weighs action & SA cracks down on independent repair barriers

SPEAKER_1 (0:01)

And now, The Money Show with Stephen Grootes on 702

SPEAKER_2 (0:06)

Let's walk the talk.

Stephen Grootes (0:07)

The Money Show with Stephen Grootes is brought to you by Absa Corporates and Investment Banking, connecting global finance to the future. That's how Absa's invested in your story. Seven minutes after six, good evening. Welcome to the program. I'm Stephen Grootes. If you had to look at one story which has dominated our economy this year, there is no doubt that it is fuel prices. It's just had such an impact on everything. And tonight, you see the full impact of that on you. Because so many people, no matter what car you drive, it can be literally a Vido, a Vivo, it could be a Ferrari. You're probably trying to fill up today simply because of that such a big increase in fuel prices. And if you have diesel, you were probably first in the queue. It really does just show you the impact that we're seeing. So wherever you go tonight and you see a queue, that is one of the best ways to understand the impact that we're seeing in our economy and the impact this is having on your money. We'll go in depth with that in just a moment. We'll speak to Karabo Tjale. He of course is on the traffic desk. He's been speaking to some filling stations. He's been looking around to see where the queues are as well. We'll speak to Bobby Ramagwede, the CEO of the AA, the Automobile Association. They have strong views on what government should do. Sanisha Packirisamy is the Group Economist at Momentum. Obviously, they've been looking through the numbers. What is realistic? We know what we want. What is realistic for government to do?

Also this evening, the way in which we use cell phones has changed so fundamentally. There was a time when the kind of two-year update model, the upgrade model was driving things. And at the time, probably only richer people had cell phones. Now everything's very, very different. Wherever you go in a mall, in any kind of shop, shopping center, you will see someone that fixes cell phones in some way, shape or form, whether it, you know, wherever you are in the country. And this really tells you how big this industry is. Well, the Competition Commission has released guidelines on how manufactured goods, the sort of after-sale market, must be managed. It's not just cell phones. It includes, you know, washing machines too. But I think cell phones is where you first see that impact. I want to speak to James Hodge, the Chief Economist of the Competition Commission, and Jan van Mulen at My Broadband about how the economic model of owning cell phones has changed. Good to hear from you tonight, 011-AA-307-02-021-446-0567.

Voice notes too, please. On 072-702-1702.

I know you're sick of sending me voice notes about petrol. I know you are. I mean, I still enjoy hearing them, but I can understand your frustration. So, tonight, please, your best and your worst stories about getting cell phones fixed. My cell phone has had three different batteries in it in the last two months.

The battery it came with, then one that I bought quite cheaply that did nothing, and then another one which I bought from an authorized dealer that did not cost me nothing. It doesn't seem to have made a difference. I'm about to change brands. That's how frustrated I am. Where are you with cell phone repair stores? Saved your life? Well, have you just saved their bacon? 72 702 1702, 10 minutes after 6

SPEAKER_1 (3:15)

The Money Show with Stephen Grootes, live on 92.7 and 106 FM, streaming on the Prime Media Plus app and DSTV Channel 856

Stephen Grootes (3:26)

Well, earlier today at around quarter past nine this morning, I thought this would be the right moment. If you're going to a petrol station today, that would be the time the morning rush would be done.

When I got there, it was pandemonium. And we're seeing a lot more of that now. The clock ticking down to that big fuel price increase at midnight. Karabo Tjale is at our traffic desk in Joburg. Karabo, good evening. What are you seeing around filling stations around Joburg? There must be queues everywhere.

Karabo Tjale (3:51)

60 rand by midnight, we'll be paying petrol. And I've got a small tank and I can't imagine how much I'll be paying tomorrow. But luckily, I filled up last night. So I'm safe. So you told me about this and then I walked around, I mean, I drove around Sandton.

I visited a couple of petrol stations, one on Catherine Street, that was just down the road. And already there was delays onto the road as well. So by now, I'm sure the delays are just hectic. I also went to the Shulk Garage on Catherine Street. Very busy.