From 7 January, 93-grade unleaded petrol will decrease by 62 cents a litre while 95-grade petrol will cost 66 cents less
Lower prices are good insofar as inflation is concerned but they suggest that economic troubles lie ahead
But prices are expected to remain higher for longer in the wake of a tighter oil market
The company’s earnings have soar given the energy crunch caused by Russia’s war on Ukraine — and it’s betting on another fossil fuel to carry it into the future
Labour unions have embarked on a nationwide strike over the high cost of living
Lesetja Kganyago defended the bank’s inflation-targeting regime amid criticism that it will do little to cushion consumers against external shocks
Consumer price inflation increased to 5.9% in March, up from 5.7% in February
Because of their lack of oil refineries, African countries become vulnerable to fluctuations on global markets
The rise in oil and food prices owing to Russia’s invasion of Ukraine is hitting poorer countries the hardest
Fuel prices have soared in response to Russia’s invasion of Ukraine, putting South Africa’s power supply at risk
Steep fuel price hikes are the result of higher levies, which came into effect this week, as well as a turbulent international oil market
Germany and China lead the way, and now South Africa is starting to see that renewable energy could be its ‘saviour’
A rapid price hike will result in South Africans paying more for food and transport.
Should Libya hit the target of 900 000 barrels a day, it would replace about one-third of the supplies being cut by other Opec nations.
Many believed Chávez would lead the world from capitalism to socialism, but an over-reliance on oil has seen his leftist vision disintegrate.
The more inclusive the consensus on how to manage oil resources in truly democratic
ways, the better for investors’ profit in the long term.
Savvy energy industry executives have made a mint out of the current climate of volatility.
Stockpiling barrels on ships would result in losses rather than bumper profits, indicating that the current surplus may not be as large as feared.
Saudi Arabia is realising that it has to look to a future that does not depend solely on fossil fuel.
Petroleum companies in the Niger Delta seek alternatives to the destructive and costly business.
The number of active oil rigs in the US, although down from 1 609 in October, rose by six to 670 last week, the third straight weekly gain.
Oil is trading in a bear market as expanding supplies and signs of slower economic growth in China fuelled a rout in commodities from gold to copper.
Oil prices recovered after Iran nuclear talks extended until July 7, despite uncertainty over the Greek financial crisis, analysts said.
Oil’s recovery from a six-year low has slowed amid speculation that global production will expand as prices rebound, prolonging a surplus.
Inflation figures are good, but uncertainty over the oil price raises a question about interest rates.
The petrol price has already dropped and, with a little time, the cost of food will be lower. But the oil price is likely to rise again, experts warn.
The energy firm’s largest investment in the United States is likely to be in jeopardy if the current conditions prevail.
Nigeria toughens currency trading curbs to slow down the depreciation of the naira following the collapse of global oil prices.
Resource prices have plummeted this year, leaving some economies reeling in the aftermath.
The fall in prices of commodities, which are South Africa’s lifeline, will offset lower fuel costs.
A ploy to soften up Russia and Iran might inflict collateral damage on its own shale industry.
The oil price has fallen by more than 20% from June. Saudi Arabia responded by cutting its price further on low demand and increased shale production.