‘Fuel rises consumers fall’
7 Mar 2019 - by Chanté Ho Hip
The recent fuel hike is expected to hit consumers hard as input costs rise, affecting the profitability and employment of businesses in the agricultural and manufacturing sectors, a recent statement by the DA has said.
This after an increase of 74 cents in petrol and 91-93 cents in diesel on Wednesday. An additional five cents increase in the general fuel levy and 15 cents increase in the Road Accident Fund levy is expected on April 1.
Debt Rescue CEO Neil Roets said that by adding the increased fuel levy and the upcoming introduction of carbon tax, consumers would be paying more in taxes and less on essentials like clothing and food.
“It is likely that more motorists will skip paying toll fees because they have substantially less money to spend.”
While economists hold the weak exchange rate, rises in crude oil prices and the rise in petroleum product imports accountable, the DA said the ANC-led government should be held liable.