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...
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