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R40 per liter of petrol? Oil taps likely to open earlier, economists say

South Africans should avoid panicking over suggestions that the price of petrol could rise to R40 per liter, as some economists believe the oil supply will stabilize long before the feared $200 oil price forecast is reached. On Monday, the price of oil stood at a very high $130 a barrel, and while oil traders have forecast it to climb to $200 by the end of March, there were also predictions that motorists would be paying a hefty R40 per liter on gasoline. While these predictions make headlines in worst-case speculation…

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