Everything is going to get more expensive - Automobile Association
Fuel prices will rise significantly on 4 August
The rise in prices is due to more expensive oil, and a weaker currency
Fuel prices will rise sharply at 00:00 AM on Wednesday (4 August).
The price of petrol will go up by 91 cents a litre while diesel will be between 54 cents and 55 cents per litre more expensive.
Paraffin will cost 50 cents per litre more.
The Money Show’s Bruce Whitfield interviewed Layton Beard, Spokesperson at the Automobile Association. (scroll up to listen).
Whitfield also spoke to independent economist Ndumiso Hadebe.
Everything is going to get more expensive… Taxes are playing a significant role…Layton Beard, Spokesperson - Automobile Association
For August… 48 cents of the increase are as a result of international petroleum product price increases… 43 cents are the contribution of the exchange rate…Layton Beard, Spokesperson - Automobile Association
The biggest drivers [of inflation] are fuel and food prices…Ndumiso Hadebe, independent economist
In the short run, there is further support required from a fiscal point of view… In the long run, it’s important… to ensure we can improve competitiveness…Ndumiso Hadebe, independent economist
Source : https://www.123rf.com/photo_111558388_empty-fuel-tank.html?term=empty%2Bfuel%2Bgauge&vti=odzfiusmfoyi3rxno4-1-96