Tag: fuel price

It's the year 2022 in the eighth month, and the country has emerged out of lockdown as a result of the global COVID-19 pandemic. Petrol prices have skyrocketed to unprecedented highs, load shedding intensified and interest rates are sitting at 5.5% - the highest since 2016.

Having reached the halfway mark of 2022, there’s little doubt that travel is rebounding – and quickly. So much so, that airports around the world are reporting delays, queues and flight disruptions as they struggle to hire (and rehire) staff quickly enough to meet the huge surge in demand.

The National Budget Speech is here, and South Africans are ready to face the reality of increased costs across the board. Rising fuel prices, growing inflation, increased interest rates and the inevitable surge in food prices all seek to cripple household finances.

Chief Economists from in a variety of countries globally released the Global Economic Outlook paper this week which provides detailed insights into the global obstacles and opportunities. Surprisingly, while the pandemic may not be over, the major economies are shifting their mindset and focusing increasingly on the potential risks and rewards of a more sustainable long-term recovery and route to sustainable growth.

Lebanon is facing a financial meltdown so severe that the World Bank has branded it as one of the worst since the mid-19th century. The country is fast spiralling into a dangerous situation of state failure, marked by violent riots, escalating blackouts and spiking fuel price increases.

The year 2020 came about with a great amount of hardships and offered critical financial lessons such as, having an emergency fund; the importance of budgeting and having sufficient insurance cover to protect yourself and your loved ones. The New Year provides an opportune time for one to reflect, take stock and review their insurance covers to ensure that they are financially prepared to handle any unexpected turns this year.

It’s a new year but the global inflation debate continues to rage. Few things are as important for longer-term market behaviour as inflation; so this is important stuff, but also difficult since the big inflation shifts of the past 60 years (first up, then down, then way down) were largely unexpected.

Fuel forecourt retailers or convenience shops are highly vulnerable to disruption. Although their operations have always provided a convenience-driven competitive advantage, they now have a lot more to grapple with. South African consumers are more tech-savvy and time-strapped, demanding greater relevance and convenience from service providers, all within a tighter economy and rising fuel costs.

The South African agriculture sector as well as consumer can breathe a sigh of relief following the announcement of a massive fuel price decrease of R1.76/ litre of both the retail price of the 93 ULP and LRP petrol, with the 95 ULP and LRP petrol falling by R1.88/ litre for Gauteng.