Today's Big Stories

Motorists might have to brace themselves for another petrol price hike - expert

The rand remains at weaker levels while the price of Brent crude oil rises.

Stanlib Chief Economist Kevin Lings says that it is highly possible that petrol prices may hike as a result.

He explains that several international disruptions have caused oil output to fall and demand to rise.

You've got demand steadily rising for oil, and getting rid of the oversupply that's been around. So it is an environment in which the oil price could well edge higher.

Kevin Lings, Chief Economist at Stanlib

He says South African consumers are already under financial strain due to inflation, and may suffer more as the currency faces renewed pressure and the oil price moves back up.

We've already had two months of increases in the petrol price. My expectation is that next month we'll see another significant rise.

Kevin Lings, Chief Economist at Stanlib

Listen to the full conversation from The Midday Report:


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