South Africa is likely to see a fuel price hike in the first week of July, a report said on Saturday.
“Unleaded 95 petrol may be hiked by 14c a litre, while unleaded 93 could rise by up to 18c. Diesel prices could be more than 34c higher,” Fin24 said, quoting the Central Anergy Fund.
Meanwhile, Bloomberg reported that oil stockpiles were also draining fast “as fuel consumption rebounds in key regions including the United States and Europe”.
“At the same time, the prospect of an imminent surge of Iranian oil is diminishing as talks to revive a nuclear deal drag on. The increasingly bullish picture is helping to fan speculation that Brent may eventually return to $100 a barrel,” the report said.
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