- South Africa will have another petrol price increase at midnight on Wednesday
- The government is holding up its hands - it can do nothing about the matter
- This increase will surely have an effect on South Africa's economy
Fuel prices are set to rise again on Wednesday and the government can do nothing about it.
This is according to Economic Development Minister Ebrahim Patel.
BusinessDay reports that the government can't do much to stop the fuel increases because it imports most of its requirements.
Petrol will go up by 26c per litre for 93 grade and 23c per litre for 25 grade. This will push the petrol price to more than R16 per litre.
The petrol increase will undoubtedly affect the country's economy.
In the last 10 years, fuel prices have more than doubled in South Africa. Minister Patel stated that despite the increases, South Africa's fuel prices are in line with the average globally.
The fuel levies are supposed to be used to improve transport infrastructure, but many South Africans feel it's not really happening.
Briefly.co.za learned that Layton Beard of the Automobile Association stated that South Africa's fuel price is "medium" compared to other countries.
He added that in Norway, people pay R27 a litre. However, South Africans feel this comparison is unfair because it does not take into consideration the average salary and living costs as well.
Cosatu feels the fuel increase will lead to more poverty. The spokesman for Cosatu, Sizwe Pamla, stated that the increased paraffin price, in particular, will hit poor families hard.
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