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The retail price of both grades of petrol sold in South Africa will dip by 7 cents a litre from Wednesday. (Waldo Swiegers/Bloomberg via Getty Images)

South Africa’s petrol, diesel, paraffin and gas prices to ease from Wednesday

The mineral and petroleum resources department attributed this to a lower average Brent crude oil price and firmer rand during the period under review

  • MG Reporter
1 min read
Markets are anticipating that the conflict will be contained. A wider Middle East war would hit an already fragile and fragmented economy.
BENJAMIN NETANYAHU

Global economy braces for Israel-Hamas spillover

A wider Middle East war would hit an already fragile and fragmented economy.

  • Sarah Smit
6 min read
Brics countries have expressed commitment to collaborate on confronting global warming, with rapid urbanisation in the five member countries.
AFRICAN GROWTH AND OPPORTUNITY ACT

What’s in it for the ‘friends of Brics’?

A bigger alliance will give the group extra economic heft, but it remains to be seen whether its members can speak in one voice

  • Sarah Smit
8 min read
‘The worst is yet to come,’ the IMF said about the global economy this week. But, for now at least, South Africa’s inflation looks to be subsiding. (Photo by Askin Kiyagan/Anadolu Agency via Getty Images)
BUREAU FOR ECONOMIC RESEARCH

Inflation, recession and Opec+: What is in store for consumers?

‘The worst is yet to come,’ the IMF said about the global economy this week. But, for now at least, South Africa’s inflation looks to be subsiding

  • Sarah Smit
5 min read
An aerial view of trucks parked on the road side waiting to get access into Tincan port in Apapa, Lagos, on January 11, 2021. – At the beginning of 2020, just before the coronavirus crisis, 99% of exports and more than 89% of imports passed through the seas, almost exclusively via Lagos. After oil, the port of Lagos, which stretches from Apapa to Tin Can island, is the second largest source of income for the African giant. (Photo by Benson Ibeabuchi / AFP) (Photo by BENSON IBEABUCHI/AFP via Getty Images)
ADEDEJI ADENIRAN

Nigeria’s economy short circuits despite oil gains

Africa’s largest oil producer has not been able to cash in fully on the price rally because of lacklustre production and its reliance on imported fuel

  • Sarah Smit
5 min read
Failing to invest in a decarbonised economy could cost South Africa trillions, but calls to mobilise capital come amid fiscal strain. (Simon Dawson/Bloomberg via Getty Images)
BOITUMELO SEHLAKE

Oil volatile amid cartel crisis

The breakdown of the oil-producer alliance could cause already high prices to spike

  • Sarah Smit
4 min read
Fuel has become one of the largest monthly expense items for many households.
AUTOMOBILE ASSOCIATION

Why motorists are paying more for petrol

Steep fuel price hikes are the result of higher levies, which came into effect this week, as well as a turbulent international oil market

  • Sarah Smit
3 min read
OIL PRICES

Oil price surges on Egypt turmoil

Oil topped $100 per barrel on Monday for the first time since 2008, as traders fretted over violent unrest in Egypt.

  • Staff Reporter
2 min read
OIL

Opec holds oil-demand forecast steady

Opec says Europe’s debt crisis and an oversupply of crude in the market are weighing heavily on crude demand in the second half of the year.

  • Staff Reporter
1 min read
OIL

Oil prices fall as Opec maintains output levels

Oil prices fell on Tuesday as Opec decided at a meeting against changing the cartel’s official crude output levels, in a widely expected move.

  • Staff Reporter
1 min read
ANGOLA

Oil chiefs gather in war-scarred Angola

Opec members, gathered in poverty-stricken Angola on Monday, said they would hold output firm amid comfortably high prices.

  • Roland Lloyd Parry
3 min read
ANGOLA

Opec oil price stable ahead of Angola meeting

The oil price of Opec stood nearly unchanged at ,78 at the end of last week, the cartel said on Monday, ahead of its conference in Angola.

  • Staff Reporter
1 min read
OIL

Oil falls below $40 on grim economic outlook

Oil fell below a barrel on Tuesday, pressured by gloom about prospects for world economic growth.

  • Staff Reporter
2 min read
OIL

Opec makes deep oil cut to rescue prices

Opec ministers on Wednesday agreed to remove a record 2,2-million barrels per day (bpd) from oil markets.

  • William Maclean
  • Barbara Lewis
2 min read
FINANCIAL CRISIS

Oil below $64 as Opec meets

Oil fell below a barrel on Friday, to new 16-month lows, as gloom about a global economic downturn.

  • Staff Reporter
1 min read
OIL

Oil price drops as demand worries trump Opec

Oil fell below a barrel on Wednesday, pressured by a gloomy outlook for the global economy.

  • Jane Merriman
3 min read
FINANCIAL CRISIS

Oil drops to $82, lowest in a year

Oil fell more than a barrel to a one-year low on Friday, depressed by expectations that global demand growth will shrink.

  • Staff Reporter
2 min read
OIL

Oil price drops amid financial turmoil

Oil prices fell below a barrel on Thursday in Asia on investor fears that crude demand will weaken amid turmoil in the financial system.

  • Staff Reporter
2 min read
OIL

Opec production cut boosts oil prices

World oil prices rebounded on Wednesday above $100 a barrel after a surprise decision Opec to cut production by 520 000 barrels a day.

  • Staff Reporter
3 min read
OIL

Is oil going back under $100 a barrel?

Is it over? Was that the oil shock? Can we relax, sit back and expect our energy bills and prices at the pumps to tumble?

  • Nils Pratley
8 min read