Finweek English Edition - - In Brief -

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 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, 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.

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