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    Fuel price likely to hold steady over festive season

    Nov 05, 2023 3 minutes
    ECONOMY

    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

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