Fuel prices in South Africa were likely to hold steady over the festive season barring a further unforeseen escalation of global geopolitical tensions.
The World Bank this week forecast that global oil prices could average $90 (R1704) a barrel in the fourth quarter of this year, and fall to an average of $81 in 2024, as slowing global economic growth eases demand.
On Thursday the Brent crude oil price was trading at $87.25 per barrel. The average Brent crude price fell