South African homebuyers are looking past large suburban properties for smaller and safer apartments. Newly launched residential developments with on-site supermarkets, restaurants, bars, and gyms are becoming increasingly popular. The pandemic-induced hybrid work model coupled with ever-increasing petrol prices are pushing homebuyers to 15-minute neighbourhoods. In these neighbourhoods, residents don't need to get into their cars to seek out work or entertainment. For more stories go to www.BusinessInsider.co.za. South African homebuyers…

Oil prices are getting even higher as the US is getting closer to imposing a ban on Russian crude imports The fallout from Russia's invasion of Ukraine has upended markets, driving everything from wheat to nickel and gasoline higher and leaving the world bracing for an inflationary shock. Oil has rallied more than 30% since the invasion and traders and banks are betting prices will keep climbing.   Oil pushed…

A former police officer and his alleged accomplice were arrested in George on charges of fraud after they were found to be using cloned petrol cards. They were arrested on Saturday, said Hawks spokesperson Zinzi Hani. "Former constable Khuezi Gift Tshuku, 29, and Zixolisile Skade, 25, were arrested by the Hawks' Serious Commercial Crime Investigation team together with George SAPS' Crime Prevention Unit following an intensive investigation into the duo's…

The fuel price is affecting transportation in Yemen. People struggle to reach their destinations. Air and sea access to Yemen is controlled by other countries. Yemenis are riding on the roof or hanging out the sides of taxi vans as severe fuel shortages in the capital Sanaa and other Houthi-held areas raise demand for public transportation, with people queuing for days to fill the tanks of their cars. READ | Doctors…

Traders piled into options that oil could surge even further after rising to the highest since 2008, with some even placing low-cost bets that futures will rise above $200 before the end of March. Prices to buy call options for higher crude prices surged Monday as the market assessed the possibility of a supply cut-off from Russia, one of the world’s biggest exporters. At least 200 contracts for the option…

Oil surged in Asia - briefly touching $139 a barrel in a dramatic start to what promises to be another tempestuous week The Biden administration is considering whether to prohibit Russian oil imports into the US without the participation of allies in Europe JPMorgan Chase & Co. said Brent could end the year at $185 a barrel if Russian supply continues to be disrupted, while one hedge fund said $200…

Shell, Europe’s largest oil company, bought a cargo of Russia’s flagship crude at a record discount, underscoring the company’s decision to keep buying supplies from the country after its invasion of Ukraine. The company paid about $28.50 a barrel below Dated Brent, a benchmark for physical oil trades globally, taking the cargo from Trafigura Group. The cargo has been bought on a delivered basis, meaning Shell won’t need to sort…

Nuclear power had lost favor in many countries after a small number of high-profile safety incidents, and as new construction projects in Europe and the US were plagued by delays and cost overruns But now soaring fossil fuel prices and rising demand for clean energy have governments around the world reconsidering nuclear power programs Anything and everything that can produce energy is being looked at now as global oil, coal…

Skyrocketing fuel prices will hurt everyone in the country, whether they make use of a vehicle or not, said the Automobile Association’s Layton Beard on Wednesday, leading to negative effects on the economy. Motorists are now paying R21.60 per litre of petrol, up from R20.14 last month. As of Wednesday, South Africans will pay R1.46 per litre more per litre of petrol, R1.44 more per litre of 0.05% diesel, R1.48…

Over 81 000 South Africans have signed the Fight Against High Fuel Prices online petition following numerous fuel increases in the country. Frustrated motorist Jerome Paulse started the petition, to Minister of Mineral Resources and Energy, Gwede Mantashe, three months ago. Paulse said it was ridiculous for motorists to pay this much for fuel. “South Africa's fuel price has reached the R20 per litre mark. So many of us are living on…