Oil Prices Rising, Here's How That Affects Sa's Fuel Price Cut For April

International oil prices are rising again, but this development is unlikely to put too much of a damper on South Africas expected fuel price relief for April.

Current indications are pointing to a petrol price decrease falling in the range between 72 cents and 85 cents, with diesel dropping by around 93 cents, unaudited data from the Central Energy Fund CEF shows.

This is largely due to weaker international oil prices earlier in the month, with Brent Crude having fallen below the 70 per barrel R1,286 mark earlier in March, for the first time in six months.

This week, Brent has been testing the 73 mark, following Donald Trumps renewed threats to impose tariffs on Venezuelan oil importers.

This reflects the markets pricing in of potentially reduced Venezuelan supplies as well as diminishing demand for the sanctioning source, says Ahmad Assiri, Research Strategist at Pepperstone.