Energy as a Weapon

The SA Reserve Bank has stated that high headline inflation has been underpinned by dramatically increasing fuel inflation, resulting from trade embargoes and restrictions on crude oil from Russia. More specifically, Unleaded Petrol 93, priced at R19.89 per litre on 2 February (before the war) rose to R21.51 on 4 May, an increase of 8%.

Source: onetwo

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