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According to the South African business technology website reported on June 15, despite the South African government's efforts to extend gasoline price mitigation measures, economists expect that South Africa and most other parts of the world may still face a sustained increase
in gasoline prices in the next few months under the continued impact of global oil problems.
UBS Investment Bank said in a research note that crude oil supplies are likely to remain tight due to limited spare capacity from producers
.
The bank has raised its Brent crude oil price forecast to $130/b at the end of September and expects it to be $125/b for the next three quarters
.
In addition, gasoline prices in South Africa were not supported by fluctuations in the rand, which fell
last week due to expectations of interest rate hikes in the United States and the possibility of a global recession.
MediaTek economist Bishop expects gasoline prices in South Africa to rise by R2.
00 to R26.
18 per litre in July, and diesel prices to R1.
18 to R24.
27 per litre
.
