South Africans have just been hit with a major fuel price increase – but the two key drivers of prices could offer some relief in 2024.
Fuel prices in South Africa have just increased, but the outlook for the rest of the year is more positive.also showed that fuel prices are showing a major under-recovery of between R1.47 and R1.54 for petrol and between R1.49 and R1.58 for diesel, meaning that more fuel price pain could be on the table in March.
International Energy Agency said that assuming there are no significant interruptions to oil delivery, forecasts for 2024 show a satisfactory supply due to an anticipated increase in non-OPEC+ production, which could substantially exceed the growth of oil demand and thus contribute towards stabilising oil prices.
“These outcomes add to the belief that the global economy will see a soft landing, i.e. that the pace of economic activity will show moderate expansion, but not rapid growth, which causes over-heating and rising inflation,” Bishop said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Amazon to Launch South African Marketplace in 2024Amazon is set to enter the South African e-commerce market in 2024, leveraging its major strengths and recognisable brand. Takealot, South Africa's biggest online retailer, is aware of the threat Amazon poses. Experts believe Amazon will face challenges in establishing itself in South Africa.
Read more »
Fitch Keeps South Africa's Credit Rating Unchanged, Expects Less Load Shedding in 2024Fitch Ratings has maintained South Africa's credit rating at 'BB-' with a stable outlook, while expressing concerns about weak growth prospects and increasing government debt. The agency predicts that load shedding will ease in 2024, but expects government debt to reach 83.2% of GDP this year. ANC's potential loss of majority in the 2024 general election is unlikely to result in significant changes in economic policy, according to Fitch.
Read more »
South Africa's Judiciary Faces Historic Leadership Transition in 2024In 2024, South Africa's judiciary will face a historic leadership transition as three of the top four positions in the judicial hierarchy will have new incumbents. Chief Justice Raymond Zondo and a judge from the Supreme Court of Appeal are due to retire, while the Deputy Chief Justice may also vacate their position. This will be the most rapid change in judicial leadership since 1994.
Read more »
The Most Powerful and Expensive Tablets in South AfricaTechCentral investigates the most powerful and expensive tablets available in South Africa in 2024.
Read more »
Choosing a Career Path: Advice for Young South AfricansYoung South Africans who just matriculated face a difficult decision over what to study, with future employment opportunities often on the mind. Nedbank said that becoming a doctor, accountant, lawyer, or engineer is often the ‘safest’ option in terms of career path and pleasing one’s parents. These can be a good field for those who have the marks to get into them.“If you can earn your living in a job that you’re passionate about, you’ll have more chance of achieving success than you would doing something unfulfilling purely for financial security,” Nedbank said.What are my weaknesses and limitations, and which of these can I work through? Although choosing what to study is based on the individual, there are several industries that can offer a wide variety of employment opportunities.The increased speed of advancing technology and digitalisation is unlikely to slow down, and the Information Technology (IT) field will continue to be a strong career option. Degrees in computer science or software engineering can lay a strong foundation, as there is both theory and practice
Read more »
South Africans Shift Away from National Electricity GridMany South Africans are choosing to end or reduce their dependence on the national electricity grid due to frequent power outages. Some are cutting off their reliance on local government, while others are adding solar and battery power as backup. The shift raises legal and regulatory challenges.
Read more »