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Finance News

Should the USA and Iran manage to find solutions to the conflict, which has seen oil prices worldwide skyrocket, it will take a while for prices to normalise.

This is because the petrol that you use next month is paid for now. This delay can mean that you have to pay more for longer as you wait for the next lot of petrol price adjustments.

In the same way, inflation increases caused by the spike in petrol price will be noticeable in the price of transported goods for weeks (maybe even months) ahead.

Petrol is likely to still go up by close to R2 and Diesel by around R6 (which is much lower than first feared). And always a factor is the Rand to Dollar exchange rate so, when the Dollar does well, because of peace plans, our petrol ironically could get slightly more expensive for a moment.