Record High Petrol Price Hike in Effect at Midnight, Fears of Taxi Fare Increase

Record High Petrol Price Hike in Effect at Midnight, Fears of Taxi Fare Increase

- A massive hike in petrol prices will come into effect at midnight and there are some other fears surrounding this

- Santaco has raised concerns about the increase in petrol prices affecting the taxi fares within the country

- Petrol will be R17 per litre, which is a R1 increase, the highest recorded in South Africa's history

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A record-high increase in petrol prices will result in motorists paying around R17 per litre. Motorists have been previously warned about the insanely high increase in petrol, which will come into effect at midnight.

Concerns have now been raised about a possible hike in taxi fares due to the large increase in petrol prices. According to the South African National Taxi Council (Santaco), there is a possibility that the petrol price hike will result in taxi fares increasing.

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Spokesperson for Santaco Thabisho Molelekwa said that the petrol hike will inevitably affect the taxi industry adding that the industry had barely recovered from the lockdowns and restrictions implemented to curb the spread of Covid-19.

Petrol price hike in effect from midnight, fears of taxi fare increase
The record-high increase in petrol prices may result in a hie in taxi fares. Image: Rachel Wisniewski/Bloomberg and Waldo Swiegers/Bloomberg
Source: Getty Images

According to AlgoaFM, Gwede Mantashe, Minister of Mineral Resources and Energy, said the fuel prices have been adjusted every month due to both international and local factors. Mantashe added that the increase in Brent Crude Oil contributed to the fuel hike.

He also said the exchange rate between the rand and dollar impacted the fuel prices for this month.

EWN reported that petrol is going by R1 litre while diesel will increase by either 63c or 65c. Molelekwa spoke about the way petrol increases and how it opens possibilities for an increase in taxi fares quite widely.

Previously, Briefly.co.za shared a post on Facebook about the hike in petrol prices:

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Take a look at some of the responses from Briefly News' readers below:

Cas Zia said:

"They recover the R500 billion that has vanished and wait for more increases in the near future as SA finds oil of the coast. So they need to push up prices now, that way when people start asking, but the oil of the coast they will have already covered themselves."

Xolie Maxoli shared:

"President and his cabinet want to be the only ones driving around."

Fanscio Dancun wrote:

"Since I am using a bicycle, I can just listen."

Bonga Kruger commented:

"How much is a plane ticket to Australia, I am leaving RSA yho. Loadshedding, corruption, GBV, petrol, food are expensive."

In similar news, Briefly.co.za reported on Eskom's tariff hike. South Africans who receive electricity directly from the embattled power utility will be charged over 15.6% more than before.

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The High Court recently ruled that Eskom may raise an extra R10 billion for their revenue of the current year.

The hike has frustrated many across the country as load-shedding and load reduction are still prominent. South Africans have taken to Twitter to share their thoughts on the topic.

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Source: Briefly.co.za

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