Fuel price shock signals bumpy road ahead for consumers
Higher fuel price, toll fees and carbon taxes reduce scope for Reserve Bank to drop interest rates
SA’s motorists, already braced for a hit from higher toll fees and taxes, are set for a 5% increase in the fuel price on Wednesday, a move that economists say will hurt an economy that is already taking strain from weak consumer demand and the effect of Eskom’s power cuts.
SA’s motorists would fork out an additional 74c/l, pushing the price in Gauteng up to R14.82, the Central Energy Fund (CEF) said on Monday.
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