RELIEF OF UPCOMING FUEL PRICE HIKE WON’T BE IMMEDIATELY FELT – ECONOMIST
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The energy department announced that fuel prices are set to drop next week.
JOHANNESBURG - Economists on Sunday said the relief of the upcoming fuel decrease wouldn’t be immediately felt despite the reduction coming as a result of a stronger rand.
The energy department announced that fuel prices are set to drop next week.
The slight decline comes after last month's record increase that saw a litre of petrol cost at least R17,32.
As of midnight on Tuesday, the price of petrol will decrease by around nine cents per litre, diesel with 31 cents per litre and 23 cents per litre for paraffin.
Economist Dawie Roodt, said, “Certainly, this is good news, but I don’t think it will make much of a difference to the average consumer and in any event, it takes some time before these sort of price changes filters through to the rest of the economy. So yes, it’s going to make a little bit of a difference for the average consumer (sic) but not really that much. It takes time before we see these ripple effects working its way through the economy.”
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