Commodities
Middle East Conflict Drives Fuel Price Volatility in South Africa
The conflict in the Middle East has escalated, leading to higher international oil prices. As a result, South African fuel prices are expected to change significantly in August.
Brent crude has risen from around $72 per barrel in early July to approximately $85, causing concerns about the impact on local fuel prices.
Our calculations show that petrol is likely to see a price decrease of between 40 and 50 cents per litre, while diesel will face increases of up to R1.10 per litre.
The situation in the Middle East remains volatile, making it difficult to predict exactly how much fuel prices will change by the end of August.