According to Annaline van der Poel, Chief Operating Officer at Debt Rescue, the latest sharp spike of over R3 per liter is almost entirely driven by global supply fears and international market panic rather than domestic factors alone. Globally, escalating conflict in the Middle East has pushed Brent crude oil well past $100 a barrel. Locally, a weak Rand—sitting at between R16.20 and R16.50 to the US dollar during the recent review period—makes purchasing that expensive oil significantly costlier.
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