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Exchange Rate

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The department of mineral and petroleum resources has confirmed that petrol will increase by R3.27 a litre, while diesel will increase by R6.19a litre, depending on the sulphur grade
95 GRADE

Petrol price to fall by 28 cents from 6 August, diesel to rise

From Wednesday, 95-grade unleaded petrol will cost R21.59 per litre in Gauteng and R20.76 in coastal areas

  • MG Reporter
2 min read
Motorists can expect relief at the fuel pumps in October, with the price of all grades of petrol and diesel set to decrease from Wednesday
93 OCTANE

Petrol prices set to decrease by R1.14 from Wednesday

The department of mineral resources says the decrease is the result of lower global crude oil prices and a stronger rand

  • Umamah Bakharia
2 min read
The retail price of both grades of petrol sold in South Africa will dip by 7 cents a litre from Wednesday. (Waldo Swiegers/Bloomberg via Getty Images)
CRUDE OIL

Hefty fuel increase for October

Higher crude oil prices, US refinery shutdowns, global diesel shortages and a weaker rand among the factors blamed

  • Mandisa Makgakga
1 min read
While a higher inflation rate may otherwise inspire increased hawkishness in the South African Reserve Bank’s monetary policy committee — which meets this week — analysts expect that the repo rate will be kept on hold again. (Delwyn Verasamy/M&G)
BUREAU FOR ECONOMIC RESEARCH

Reserve Bank will stay tough, even as inflation softens

Borrowers face another 75 basis point repo rate hike this week, as inflation looks to stay uncomfortably high

  • Sarah Smit
5 min read
Economists widely expect the South African Reserve Bank’s monetary policy committee to once again hold the interest rate at 8.25% when it concludes its meeting on Thursday.
ALEXANDER FORBES

‘A cruel slap’: Reserve Bank weighs inflation risks as the economy struggles

Critics have said the repo rate hike will jeopardise already sluggish economic growth, but others say the gradual increase will have little effect

  • Sarah Smit
9 min read
South African Reserve Bank governor Lesetja Kganyago. Photo: Waldo Swiegers/Bloomberg/Getty Images
BANK OF ENGLAND

Reserve Bank green-lights interest rate lift-off

The decision to hike the repo rate by 25 basis points comes in the wake of red-hot inflation in advanced economies and fears policymakers will start to dial back on accommodative…

  • Sarah Smit
5 min read
Struggles: Many South Africans sought relief from the Unemployment Insurance Fund at the start of the Covid-19 pandemic. Jobs are now increasing but not fast enough. (Delwyn Verasamy/M&G)
AGRICULTURE

Economy’s signs of life mean little for the poor

GDP growth may be encouraging but it doesn’t mean much for SA’s millions of unemployed

  • Sarah Smit
6 min read