Motorists are expected to feel a sharp sting at the pumps next week – but it looks like it might be slightly lighter than mid-month forecasts.
The latest available data from the Central Energy Fund shows that recoveries in fuel in South Africa have pulled back slightly – but a crash in the rand will keep the pressure on in the final week of February.
However, while this is a positive turn, the under-recoveries tracked were at a time when the rand was trading below R19 to the dollar. This has fed the prevailing “higher for longer” narrative around interest rates, keeping the dollar stronger and putting the rand on the back foot.
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