$126. That is the number sitting at the centre of today’s Number of the Day, and it is the kind of figure that can move from global markets to South African households very quickly.
Gareth Edwards and Francis Herd unpack the oil price shock, explaining how crude moved from the $70 range before the current war to the worst level seen during this conflict. The first fear is obvious: higher fuel prices. But the deeper concern is supply.
If oil becomes harder to move around the world, the problem is no longer just what motorists pay at the pump. It becomes a question of availability, jet fuel shortages, import costs, delayed goods, business pressure and food prices.
That is where the story lands for South Africa. The country is vulnerable because fuel sits inside almost everything: transport, logistics, groceries, aviation, business costs and household budgets. Temporary relief may soften the immediate blow, but it cannot hold back global pressure forever.
$126 is the number. The real question is how far the shock travels.
Catch up on all Number of the Day episodes here: https://www.enca.com/number-day-podcast
