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When gasoline prices fall in South Africa, you know there's an oil glut! South African motorists have been granted their first cut in gasoline prices since 1964. The cut of 1.6 cents per liter is a sure sign the world oil glut is seriously undercutting OPEC's oil embargo against Pretoria. Security laws make it illegal in South Africa to publish details about where the country buys oil. But whoever the suppliers are, the petrol price reduction suggests they are more eager than ever to unload crude in secret deals with South Africa.
Even with the cut, South Africans will still pay the equivalent of more than