Next Wednesday, April 1, is petrol-and-diesel D-Day for South Africa. That is when the official fuel price adjustments for April come into effect – and right now the country is bracing itself. At the time of writing, the Department of Mineral and Petroleum Resources (DMPR) had still not announced the official adjustments. These are normally released towards the end of each month before the new prices take effect on the first Wednesday of the next month.
As is now well known, the Middle East war has played havoc with global fuel supplies and prices. In February, before the crisis, Brent crude was trading between $66 and $71 a barrel. Since the conflict began, the price has surged, hitting a high of $119 a barrel in mid-March following increased attacks on energy facilities in the region. At the time of writing, it is sitting at around $107 a barrel. That, together with the Rand/Dollar exchange rate, forms the two major external factors that determine the Basic Fuel Price. Added to that…
.jpg "Three killed in a crash on the N1-24 at Engen Garage involving a Quantum Mini Bus coming from Gauteng")