Monday, April 11, 2011

Another petrol hike expected next month

By Lelethu Mquqo
11 April 2011

Economists are predicting the gloomy news for motorists that the price of petrol is expected to exceed R10 a litre next month.

This comes as Brent crude oil, which is used as a benchmark by South Africa, remained above the $127 a barrel level.

However, there is a glimmer of hope that things could improve and the analysts say that peace talks in Libya, where the unrest has been supporting oil prices, will definitely affect the oil market.

President Jacob Zuma has met with Muammar Gaddafi and is full of confidence that the unstable situation in Libya will soon be resolved.


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