Botswana fuel price hike, the Israel-Iran war is a profitable business of oil price pumping

Today’s updates

I bet you have seen this

We are having price hikes on petrol prices

Retail pump prices to increase at midnight:

- Unleaded petrol 93 will be increased by P1.13 per litre;

- Unleaded petrol 95 will be increased by P1.05 per litre; and

- Diesel 50ppm will be increased by 16 thebe per litre.

"The increase in local prices is as a result of the general increase in international oil prices," reads a statement from BERA.

"Oil prices have been increasing mainly due to geo-political tensions as well as reduced supplies due to seasonal refinery maintenance."

Also increasing is the retail pump price of Aviation Gasoline as follows:

393 thebe per litre for Gaborone;

392 thebe per litre for Maun;

409 thebe per litre for Kasane; and

397 thebe per litre for Francistown. [source: Mmegi]

Why is this happening?

According to CNBC a reporter called Victor Shvets, oil prices are rising due to the Israel-Iran war, the war is highly orchestrated, Iran was signaling for days they will attack Israel and Israel was indicating for days that they will attack too. It wasn’t a surprise for any side all this was all an orchestrated dance from both side. The amount of magnitude and calibration of the two sides. But no nuclear plants were attacked on both sides. Click here to learn more

War is a profitable business, and the biggest gainer is oil, remember countries that benefit the most from oil prices going up are Saudi Arabia, Russia, Iraq, Iran, Kuwait and the UAE.

But how will this affect. Most times investors fear that oil prices increase negatively affect the stock market, so many fear when there will be a fall of stock prices.

What happened to the local market this week