SA fuel prices to jump this week on Iran war impact
South Africa announced that regulated petrol and diesel prices will rise significantly this week due to the impact of the Iran war on global energy markets. The increase is expected to drive overall inflation further above the central bank target.
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South Africa will raise regulated petrol pump prices by 12% and diesel by 10% this week, driven by the conflict in Iran and rising Brent Crude Oil costs. The increase will push domestic fuel costs up by over 3 rand a litre from October 7. The adjustment threatens to drive inflation further above the central bank's target, increasing pressure for monetary tightening.
