Fuel Price Shocks Trigger Ripple Effect Across Southern Africa

It is a global problem that the price of crude has exceeded U$100 a barrel since the USA and Israel attacked Iran on 28 February. As the month’s events have unfolded there is growing anxiety about the disruption to production and shipping and supply chains in general. For South Africa a prolonged surge in oil prices couldn’t come at a worse time for policymakers hoping to steer inflation closer to the South African Reserve Bank’s 3% target.