s steep rises loom, the South African Petroleum Industry Association says little can actually be done to alleviate the pain it will inflict on consumers and the economy. “Unfortunately, we are just going to have to bite the bullet,” said Sapia’s strategic projects head Kevin Baart. “There is very little government can do except tinker around the edges, which may chop one or two cents a litre”. There appears to be little sign of relief on the horizon either as Fin24 warns that as China moves to reopen its economy, demand for fuel will rise. In the US too, demand is expected to increase with a resurgence in jet travel and the start of the summer driving season, while on the supply side, there is less spare capacity than had been assumed following major underinvestment in the industry for the past decade.
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