Petrol may fall by R 1.20 a litre!

By Staff Writer
Petrol may fall by R 1.20 a litre!

Car insurance comparisons, online mortgages and online debt consolidation here at Justmoney

A very welcome set of stories cover the cost of petrol today.

The Business Times reported that the department of Minerals and Energy would be able to further cut the cost of petrol in December.

This was based on the daily over-recovery rate remaining at the levels seen on Wednesday the 5th of November. The next petrol price announcement is scheduled to take place on the 28th of November. iAfrica also followed this story from I-Net Bridge. You can compare car insurance quotes here. The Times covered news of the world oil price slipping to just under $ 60 US for light sweet crude, but later recovering. These price plunges from $ 147 US a Barrel in only July to now are caused in part by slowing global demand.

The slowdown is extending its roots everywhere and if you are not prepared you should do some budgeting. Business Day carried a piece on how globally banks are cutting there interest rates, sometimes by massive increments to usual, in a bid to revitalise their economies.

South African banks are safer and you can compare banks with Justmoney, but the bite is in and we all need to keep careful track of our money. The BBC reported that British banks are under pressure to cut their bond rates as the Bank of England, their equivalent of our Reserve bank shock cut interest rates yesterday. Alaister Darling, the British chancellor, waggled his eyebrows at the commercial banks to pass the rate cut on.

Business Day reported that the local property market was looking bleak, with ABSA's latest housing figures showing that nominal house prices only gained 1.2% last month which is the slowest rate of growth since the dawn of January 1993. The sub-prime collapse was in part caused by debt being lent on the expectation of rising property prices which eventually stopped rising and called in the whole caboodle. If you are struggling with your debts you can get online debt consolidation with Justmoney. The Dispatch ran a quirky story about how Japanese estate agents can tell the age of a building by the height of its ceilings. Apparently in the recession years, cost cutting lead to lower ceilings and more floors in newly built apartment blocks. Will we start to see cheaper smaller buildings going up here? Regardless, if you want a home loan or a re-mortgage you can get them both online with Justmoney.

In a final article the Wall Street Journal interviews the father of portfolio theory, Harry Markowitz. He invented the diversified portfolio to spread risk, but is critical of the derivative instruments that engineered the current collapse. "Diversifying sufficiently among uncorrelated risks can reduce portfolio risk toward zero," he says in the interview. "But financial engineers should know that's not true of a portfolio of correlated risks."

Recent Articles

Featured The cost of being sick in South Africa

Finding affordable healthcare in South Africa is possible, but it comes with its own challenges. Justmoney contacted 13 doctors in Cape Town to find out how much an appointment costs. We also found out how medical schemes assist with these costs, and we compared South Africa with its BRICS counterparts.

Read more

Rand 3.5% stronger – a good start to 2019

The rand has started 2019 with a bang and is 3.5% stronger against the US dollar. This is mainly the result of off-shore events, which makes this sentiment driven. And ­- as we all know - sentiment can change at the drop of a hat. 

Read more

Foreign nationals vs. Loans

It’s true, foreign nationals often struggle when living in a foreign country. From language barriers and battling unemployment, to xenophobia and struggling with financial support services.

Read more

What do doctors have to say about ‘leisure sickness’?

We got in touch with local physicians to find out what they think about leisure sickness. We had a look at the symptoms, treatment, and costs thereof, and we found out which other illnesses could display similar symptoms.

Read more

Sign Up

To our weekly newsletter for advice you can bank on

Deals

Obz Cafe Cocktail Special

Price: R55-R59
When: Tuesdays-Fridays
Where: Cape Town

Telkom January Big Deal

Price: R807 pm
When: Until 31 January
Where: Nationwide

Planet Fitness Special

Price: R199
When: Daily
Where: Nationwide