Second major fuel price hike in one month to hit South Africans hard
Another fuel price hike and SA consumers are feeling the pinch. Just weeks after the previous hike left us reeling, consumers will now pay a further 81 cents more per litre of petrol, and up to 75 cents more per litre of diesel. With a further 42 cents increase in illuminating paraffin, those who use it for lighting, heating and cooking will be especially hard hit.
Sebastien Alexanderson, CEO of National Debt Advisors (NDA), says: “SA consumers have been dealt a second hard blow - before they’ve even had a chance to come to grips with the first. As most South Africans are already struggling to make ends meet, another petrol price hike will see them having to once again dip into their already limited disposable income, just to keep their heads above water.”
Petrol price increases push up the price of all other commodities and therefore the cost to produce and transport raw materials rises. This is then reflected in the cost of everyday necessities like bread, milk, maize - and virtually anything and everything on store shelves.
Alexanderson goes on to highlight that the most financially vulnerable often live far away from city centres and work hubs. “This makes transport costs a huge part of their budgeted expenses. A petrol price increase will most likely lead to an increase in the price of public transport costs - something which struggling consumers can ill afford right now.”