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Fuel price may hit R40 a litre

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Another petrol hike is on the way.
Another petrol hike is on the way.

BUSINESS

The Russian invasion of Ukraine thousands of kilometres away could drive the local fuel price up to R40 a litre, while a fertiliser shortage and associated high prices could affect South African farmers and, consequently, food security, experts say.

Agricultural Business Chamber of SA chief economist Wandile Sihlobo wrote in his weekly market report this week that there were concerns about the war’s effects on stocks and prices of wheat, maize and sunflower oil, of which Russia and Ukraine are major producers.

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