SOUTH AFRICA (enca.com) – It has not been a good year for the wallets of South African consumers, with the latest blow being the fuel price spike that came into effect at midnight. Petrol went up by 49 cents a litre while diesel prices rose by 59 cents.
It comes on the back of April’s VAT increase, to 15 percent. The fuel levy was also increased. However, one economist reckons the petrol price hikes should not increase transport prices.
“For three months in January, February and March we had petrol price cuts and when you look at the two increases in April and now in May, they don’t take us back where the price of petrol was in December. So if ever any of the people who are using petrol increase their prices, it won’t be fair to consumers. There may be those who try their luck,” said economist Bonke Dumisa.