Morning Brief – Tuesday, 4 October 2022

Good morning. Here are the top stories you need to know today:

Petrol price will be cut on Wednesday, but diesel gets pricier

Amid interest rate hikes and a soaring cost of living, there will be some relief to our wallets on Wednesday when the petrol price is set to be reduced again but if you’re a diesel user then you’ll have to fork out even more for a litre of fuel. Unleaded 95 petrol will decrease by R1.02 a litre while unleaded 93 will be 89 cents cheaper. The lower price of fuel will see unleaded 95 petrol at R23.36 a litre in Gauteng, down from a record high of R26.74 in July and still higher than the R19.61 a litre price at the start of the year. Diesel will increase by between 10 and 15 cents a litre due to global supply constrain on the fuel. (News24)

South Africa’s horror year of load shedding – here’s how it compares

As we settle into yet another week of load shedding, data shows that 2022 is the worst year on record for blackouts and it isn’t over yet. “Data from South Africa’s Council for Scientific and Industrial Research (CSIR) showed that Eskom had cut 2,276GWh of electricity in the first six months of 2022 – more than 90% of the 2,521GWh it shed for the entire 2021.” According to EskomSePush, the country has experienced an accumulative 1,949 hours (81 days) of load shedding this year compared with 1,153 hours over 48 days in 2021 and 844 hours over 35 days in 2020. (Business Tech)

Kim Kardashian to Pay $1.3 Million to SEC for Crypto Touting

Reality TV star Kim Kardashian has reached a settlement with the United States Securities and Exchange Commission after allegations she broke “US rules by touting a crypto token without disclosing she was paid for the promotion,” reports Bloomberg. Kardashian was reportedly paid $250,000 to promote the EMAX tokens, a crypto asset offered by EthereumMax, on her social media and despite her use of the hashtag ‘ad’ on her post, the SEC says investors weren’t made aware that it was a paid post. Kardashian agreed to settle the matter for $1.3 million so that she can move on with her other business interests according to her lawyers. (Bloomberg)