Physical oil prices have fallen internationally, reflecting easing concerns over Russian-led supply disruptions and worries of a global economic slowdown
US retailers stocked up on goods last autumn and winter only to face a demand downturn as consumers divert spending to increasingly expensive fuel and food
Ramaphosa gave the Special Investigating Unit the green light to investigate allegations against the two boards earlier in August
The party has decided there should not be a cooling-off period as provided for in the Electoral Amendment Bill
In June, Siemens wrote down the value of its stake in Siemens Energy by €2.7bn following the turbine maker’s repeated profit warnings
The improved sentiment is a result of increased merchandise export and import volumes and more new vehicles sold, Sacci report says
Reducing people’s unnecessary movement for a few days as soon as new cases emerge is a key practice of the East Asian country’s Covid-zero strategy
Fiery hooker comes in as coach Jacques Nienaber reshuffles front row for All Blacks showdown
Mercedes-Benz will bring its luxurious EQS electric vehicle to SA later in 2022
Fuel prices will increase sharply at midnight on Tuesday, though the effect on inflation is expected to be slightly downward, according to Econometrix economist Laura Campbell.
Petrol prices go up 29c a litre for 95 octane and 25c for 93c, the Department of Energy has announced. Diesel prices will rise 42c a litre for 0.05% and for 0.005% sulphur content.
Campbell said on Monday that SA should expect yet another fuel-price increase in November in the light of the combination of rand weakness and a substantially stronger oil price. She said the rand and oil-price trends were expected to persist in the near term.
The rand traded at about R13.59 to the dollar late on Monday and Brent crude was at $55 a barrel. Brent had been ranging between $55 and $59 a barrel, or an increase of about 12% for September, as a result of geopolitical factors, including news of rising tension over Kurdish demands for independence from Iraq.
Campbell’s outlook for oil prices was corroborated by analysts at...
A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
Already subscribed? Simply sign in below.
Questions or problems? Email firstname.lastname@example.org or call 0860 52 52 00. Got a subscription voucher? Redeem it now
Would you like to comment on this article? Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.