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Hopes Build for Further Fuel Price Cut

SOUTH AFRICA
  • BusinessTech cite a note from Investec as forecasting another drop in fuel prices for September as well as a tapering of food price inflation, meaning inflation could come in slightly lower than previously expected through the rest of 2022. The piece cites Central Energy Fund data as showing a stronger ZAR and lower wholesale costs should put petrol prices lower by R2.72/litre and diesel prices lower by R2.48/litre.
  • Widespread water outages will persist for 53 hours across a number of territories, most notably Johannesburg and Tshwane as technicians work on a tie-in for a new water pipeline. The shutdown is due to persist from late Thursday evening into Sunday night. The outages exacerbate issues elsewhere, most notably in the Eastern Cape as strikes leave some residents without water for more than a week. ENCA writes that the strikes are causing municipal infrastructure to ‘crumble’.
  • No notable data due for South Africa today, although some focus may be paid to the 2033, 2038 and 2050 linker auction later today.
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