At R17.08 per litre of 95 octane petrol, the retail petrol price is now at a record high. It also means it will now cost roughly R50 extra to fill up a sedan car. At the beginning of the year inland 95 octane was sold at R14.42 per litre. The fuel price is sure to have a painful knock-on effect on South Africa’s cash-strapped consumers, as it will continue to put upward pressure on most living expenses – most notably on the costs associated with the production and transport of food and other consumables.
Michelle Krebs from Autotrader in an article on ft.com on the new trade agreement between the US, Canada and Mexico. The deal requires that car manufacturers ensure that 75% of the parts in their completed cars come from the three signatory countries - up from 62.5%. According to ft.com, however, manufacturers are unlikely to suddenly increase output, because car sales in the US have been declining. Another commentator said the new regional content requirement limits how freely parts can be sourced. “So there will be added costs associated with vehicle manufacture.”
President Trump during a news conference to discuss the new US-Mexico-Canada trade deal.