Perfect storm brewing for petrol price, repo rate shock

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Cape Town – South Africans could see the petrol price rising by about 70 cents a litre next month with a further increase the following month, according to Stanlib chief economist Kevin Lings.

Reinforcing this view, Automobile Association (AA) spokesperson Layton Beard told Fin24 that a perfect storm will see the petrol price escalate - a drastic turnaround from its rosy situation last month.

Continued petrol price hikes and a prolonged deterioration of the rand will then see inflation rise, causing a repo rate hike, Lings warned on Tuesday.

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Rand - Dollar
14.13
-0.9%
Rand - Pound
19.86
-0.3%
Rand - Euro
17.06
-0.3%
Rand - Aus dollar
10.92
+0.5%
Rand - Yen
0.13
-0.0%
Gold
1,814.47
-1.3%
Silver
26.96
-2.4%
Palladium
2,859.51
-2.8%
Platinum
1,215.34
-2.0%
Brent Crude
68.55
+0.3%
Top 40
61,529
+0.3%
All Share
67,424
+0.3%
Resource 10
71,663
+1.5%
Industrial 25
83,756
-0.5%
Financial 15
12,642
-0.1%
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