Surge in fuel prices likely to put pressure on inflation | IOL Business Report

JOHANNESBURG - The surge in fuel prices this month will likely see consumer inflation tick up after inflation subsided to 4 percent year-on-year in January from 4.5percent in December on account of lower fuel prices at the time. The Department of Energy said yesterday that motorists would have to pay 74cents a litre more for petrol and 91c a litre more for diesel from tomorrow, due to rising oil prices which offset a stronger local currency last month.

Analysts from Momentum Investments said upward revisions to inflation in the near term could be attributed to the Eskom electricity tariff risk and volatility in the oil price. “The rise in tolls by Sanral, on top of the fuel price hike, is going to affect all South Africans thanks to the fact that most freight is now transported by road, because of the total collapse of the freight rail network under the stewardship of a corrupt and bankrupt Prasa,” Roodt said.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

AYO responds to Business Day article | IOL Business ReportAYO Technology has responded to the front page article of the Business Day on Tuesday morning.
Source: IOL - 🏆 46. / 51 Read more »

Data rollover changes: Here's what you need to know | IOL Business ReportThe new regulation is set to set to come into effect between the 28th of February and 1st of March 2019. busrep We're being charged exorbitant amounts for data, now Vodacom will be charging 'rollover' fees! Just another way to screw us over & milk us for more.
Source: IOL - 🏆 46. / 51 Read more »

Earn bonus Pick n Pay Smart Shopper points with TymeBank | IOL Business ReportShoppers can now earn bonus Pick n Pay Smart Shopper loyalty points everywhere they shop and pay with their TymeBank debit card.
Source: IOL - 🏆 46. / 51 Read more »

WhatsApp is working on an Advanced Search feature | IOL Business ReportMessaging platform WhatsApp is working on a new feature to better their chat search function according to WABetaInfo.
Source: IOL - 🏆 46. / 51 Read more »

Zimbabwe central bank borrows $985m from African banks | IOL Business ReportThe nation ditched a discredited 1:1 dollar peg for its surrogate bond notes and electronic dollars, merging into a lower-value transitional currency busrep Who loans Zim money?
Source: IOL - 🏆 46. / 51 Read more »

PSA demands immediate action to be taken against Gungubele | IOL Business ReportPSA has called for steps to be taken against Deputy Minister of Finance, Mondli Gungubele, following revelations at the PIC Commission of Inquiry.
Source: IOL - 🏆 46. / 51 Read more »

Alex Forbes is facing a ‘de facto’ takeover | IOL Business ReportFirm is set to emerge as the biggest loser in a deal that would see it dispose of its short-term insurance business
Source: IOL - 🏆 46. / 51 Read more »

Mantashe shrugs off Amcu demand to arrest bosses after fatalities | IOL Business ReportMineral Resources Minister Gwede Mantashe has shrugged off calls for the government to arrest mine bosses.
Source: IOL - 🏆 46. / 51 Read more »

South Africa off to a good start in 2019 | IOL Business ReportData from the Institute of International Finance (IIF) on Friday showed that South Africa had a good start to the year. busrep 😂😂😂😂 yeah right.
Source: IOL - 🏆 46. / 51 Read more »

WATCH: inDriver, a bargaining ride-hailing app has launched in SA | IOL Business ReportThe ride-hailing app called inDriver that lets passengers bargain for a good price, has arrived in South Africa.
Source: IOL - 🏆 46. / 51 Read more »