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SAPIA announce petroleum products sales growth of 2,0% in the second quarter of 1997

Sales of major petroleum products in South Africa increased by 2,0% in the second quarter of 1997 as compared to the second quarter of 1996, the South African Petroleum Industry Association announced today.

Petrol sales, which account for more that half of total sales, increased by 2,0% for the quarter. Sales of diesel, an important agricultural, commercial and industrial fuel, increased by 1,5%. Jet fuel sales rose by 2,1% as compared to 22,5% in the first quarter. Sales of illuminating paraffin, a product on which over half of all South Africans are dependent for cooking, heating, lighting and refrigeration, increased by 10,5%.

This is the second consecutive quarter in which sales growth has been slow.

This decline in growth of sales volumes will have a material adverse impact on the Industry, which has been operating on fixed cents per litre marketing margins, unchanged since September 1993, despite an increase in the C P I of some 35% since that date.

The penetration of unleaded petrol as a percentage of total petrol sales has stabilised at some 9%, which is well below the 15% to 25% target.

In response to requests for historical data, the Association makes available the quarterly figures for 1994 to 1998.

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