Middle East conflict, oil prices and the pressure on SA consumers

Global oil markets are once again on edge as escalating tensions in the Middle East push crude prices higher and raise fresh concerns for fuel costs in South Africa. With petrol prices already a sensitive issue for households and businesses, economists warn that sustained instability in key energy shipping routes could quickly translate into higher inflation and tighter financial pressure on consumers. Executive Chairman African Energy Chamber, NJ Ayuk explain what these rising oil prices mean.