News 16:00

BULLETIN 31 March 4 pm

Good afternoon. I am……..

In this bulletin:

# The petrol price will increase by over three-rand and the diesel price jumps to over seven-rand at midnight
# Ferroglobe warns of a smelter shutdown over power costs
# And Olympics: General ticket sales for 2028 Games in Los Angeles will start on the ninth of April

# Petrol and diesel prices are set to rise sharply from tomorrow, with 93-octane and 95-octane petrol both increasing by three-rand-six-cents per litre, while diesel prices will jump by more than seven-rand per litre. Illuminating paraffin will rise by eleven-rand-67-cents per litre, while LP gas prices will increase by one-rand-eight-cents per kilogram. Mineral and Petroleum Resources minister Gwede Mantashe says the hikes are driven by higher global oil prices, a weaker rand and the ongoing Middle Eastern tensions.

# Global producer Ferroglobe says it may shut its South African operations by tomorrow without electricity tariff relief. The firm, with smelters in Polokwane, Limpopo and Mpumalanga, employs hundreds and supports thousands of indirect jobs. Talks with Eskom on reduced tariffs remain unresolved. The warning comes amid wider industry strain, with unions raising concerns over potential job losses linked to rising energy costs.

# President Cyril Ramaphosa has reaffirmed that South Africa is an investable market. Speaking at the investment conference in Sandton, Johannesburg, Ramaphosa said the country’s strategy focuses on key sectors including manufacturing, mining, agriculture and digital infrastructure. He adds structural reforms are improving the ease of doing business. Ramaphosa also highlights the twin pillars of structural reform and policy responsiveness including crucial building block of solving the country’s visa challenges:

# The GOOD Party in Tshwane says the draft budget for 2026/27 shows the multi-party coalition government has kept its promise of making the metro financially sustainable again. The metro is tabling an operating revenue of 57.1-billion-rand for next year, which represents a 6.9-percent increase against the 2025/26 adjustment budget. GOOD’s Sarah Mabotsa says Tshwane has been paying off historic debts, while also still achieving and maintaining a fully funded budget:

# Olympics: The ticket sale process for 2028’s Games in Los Angeles in the US will open for the general public next Thursday. It will be preceded by a presale for residents in L-A and Oklahoma City. The organisers say a million of the cheapest tickets will be available at 478-rand, about five-percent of tickets will cost over 17-thousand-rand, and other prices differ from three-thousand 400- to six-thousand-800-rand. A verified resale programme will open next year through official resale platforms.

# And the financial indicators: The dollar trades at 17-rand-6-cents and the euro at 19-rand-61-cents. One British pound costs 22-rand-58-cents and Bitcoin trades at 66-thousand-582-dollars. Gold sells at four-thousand-577-dollars-84-cents a fine ounce and Brent crude oil is quoted at 106-dollars-51-cents a barrel.

Stay tuned for more news………….