Durban - Motorists should brace themselves for yet another massive fuel price increase on Wednesday. Economists have predicted that more fuel hikes are to follow and that consumers will be badly affected.
The Energy Department announced that the price of 95 octane petrol will increase by R1.31 a litre in inland provinces, while motorists on the coast will have to fork out R1.26 more. Economists have also raised concerns about the impact of the fuel price increases on the economy’s growth. Electricity prices are also expected to go up this month. Last month the National Energy Regulator allowed Eskom to implement a 9.4% increase.
In February, Finance Minister Tito Mboweni announced that carbon tax on fuel of 9c a litre on petrol and 10c on diesel would become effective from June 5.“When the rand weakens against the US dollar, everything increases, petrol, food and so on
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