R20 a litre for petrol is possible before the end of 2019 – indicating the difficulties ANC-regime has in finding any solutions to reduce the shock of escalating prices on SA’s businesses and consumers

The spike in the fuel price on Wednesday and growing unrest in oil-producing Venezuela have done little to assuage fears that the petrol price is set to continue its upward trajectory for most of this year.

However, economists believe the oil price is unlikely to rise much above $80 a barrel in 2019, and that the fuel price will retreat towards the end of the year. In fact, global estimates indicate an average Brent crude oil price in the mid-$60s for the year.

The price of petrol in South Africa increased last week by 54c per litre while diesel went up by one cent as the oil price neared $75 per barrel as it continued to rise since starting the year at just over $50/barrel.

The inland price of 95 unleaded petrol increased to R16.67 and 93 unleaded to R16.50, while, at the coast, 95 unleaded increased to R16.03 and 93 unleaded to R16.07. The prices continue to edge closer to the October 2018 all-time high of R17.08.

The recent increase wa
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Total recently found gas near the SA coast, it is highly unlikely the poor citizens of the country will benefit from this found, rather the obese corrupt civil servants of ANC regime

French oil company Total announced on Thursday morning that it had drilled a column of gas near the South African coast.

Total says the discovery is of great importance to the South African economy, and the possibility of low grade oil is not excluded.

The gas has been drilled about 175 kilometers from the south coast, which is considered a huge breakthrough.

However, the borehole had to be sunk 3,633 meters deep, but Total is satisfied that a good discovery has been made.

The drill was done by Total with its most modern equipment that made the discovery so much faster, and plans to continue its search for oil.

The original article can be read in Afrikaans on Die Vryburger
This report does not necessarily reflects the opinion of SA-news.

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