The price of petrol is expected to increase by R1.24/litre (95 inland) in March according to the latest Central Energy Fund data, one of the steepest monthly increases on record. But most of the factors are outside of South Africa’s control, say economists at Momentum Investments.
The price of petrol is expected to increase by R1.24/litre in March according to the latest Central Energy Fund data, one of the steepest monthly increases on record, say economists at Momentum Investments.
“As such, the current episode is viewed as a temporary shock and oil prices are expected to decline after a few months.”The moves in headline prices in recent days have been driven by two of the market’s biggest geopolitical risks – the potential return of Iranian barrels to the market and political tension around Ukraine.
On Thursday, Russian state media cited Moscow-backed separatists as saying Ukrainian forces had violated cease-fire rules overnight. While Russia has insisted that it’s serious about easing tensions – and has repeatedly denied that it plans an invasion of its smaller neighbour – the US says Moscow is still building up troop levels near the border.
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