From the news desk

Fuel price hikes kick in on Wednesday

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Substantial fuel price hikes have taken effect starting at midnight last night.

The Mineral Resources Department earlier announced an increase of R1,21 cents a litre for petrol with diesel increasing by R1, 48 cents a litre.

Wholesale illuminating paraffin is go up by R1,45 cents a litre.

The Automobile Association says refinery costs, natural gas price hikes and rand weakness are behind the steep increases in the run up to the festive season.

Consumer specialist, Ina Wilken says this is bad news for consumers: “The petrol price increase of this magnitude does not go down well for cash-strapped consumers. The price of petrol which before the increase is R8,18 and what we then pay at petrol stations for 95 Octane for example at R18,33 of which R6,33 goes to the state added to that cost such as transport, storage and other discretionary costs etc which then add to R18,33 today. And from Wednesday more than R20. Consumers are barley surviving.”

Source: SABC


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