Cumulative effect of petrol price hike should worry consumers: CSIR
The pending fuel price hike is likely going to have a devastating impact on consumers as it drives up the cost of living.
Refilwe Moloto spoke to the Council for Scientific and Industrial Research's transport systems and operations area leader Dr Mathetha Mokonyama about this.
This fuel price hike is going to drive up household expenditure.
Furthermore, it will be more expensive to use both public and private transport.
According to Mokonyama, it is not only the immediate impact of this price that will be an issue but the long-term effect on a family’s household income and expenditure.
The immediate increases may not be the shock. It is the cumulative effect that actually should be worrying us.Dr Mathetha Mokonyama, Council for Scientific and Industrial Research
Many South Africans travel long distances to work every day - which will see a significant portion of their earnings going to transport to and from work.
A petrol price hike has a ripple effect - which drives up other prices including food and other essentials.
From Wednesday, petrol 93 octane is expected to cost an additional R2.37 per litre while 95 octane will cost an additional R2.57 per litre.
The price of diesel is also set to increase by between R2.30 and R2.31 per litre.
To find out more, listen to the full audio above.
Source : https://www.123rf.com/photo_54420336_gun-petrol-in-the-tank-to-fill-car-refueling-concept-.html