An economist said the R1.71 cents fuel hike announced on Monday is due to two reasons.
The Department of Mineral Resources and Energy announced on Monday that the price of petrol and diesel would increase on Wednesday.
Chief economist at the Bureau for Economic Research at Stellenbosch University, Hugo Pienaar, said the increase was based on current local and international factors.
“The significant increase in domestic fuel prices is to a large extent because of much higher diesel and gasoline prices. In conjunction with that, we’ve also seen the rand-dollar exchange rate weaken over the past month.”
Pienaar said whether or not South Africans experienced some relief in the coming months depended on the stability of the oil price and the rand-dollar exchange rate.
-EWN
In other news – VIDEO: Nadia Nakai twerks for late AKA
Popular South African rapper and media personality, Nadia Nakai sends her late boyfriend AKA a message with an impressive twerk dance. It’s been a few tough months for Nadia as she lost her boyfriend, AKA.
Since then, she had been mourning and did not have much time to relax and free herself. It seemed now was the time for Nadia to enjoy her life without AKA and make him proud. A few days ago, Nadia had been with Kairo, AKA’s daughter, teaching her to sing and record in the studio. Read More