S. Africa’s Feb base oils imports rise

South Africa’s base oils imports rose to a three-month high in February even as power supply shortages curbed manufacturing activity and rising interest rates cut consumer spending.

Base oil imports of 25,560 kilolitres (22,640t) in February rose from 13,860kl the previous month, government data showed.

The volume rose by 6pc from year-earlier levels and for the sixth time in seven months.

But it remained down from average levels of 28,620 kl/month in 2022.

South Africa’s automobile sales fell in March for the first time in fifteen months, reflecting the slowdown in economic activity.