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AA: “Latest Petrol Price Hike a Huge Blow to Consumers”

 

Faizel Patel, Radio Islam News – 27-09-2018

 

The Automobile Association (AA) says the increase of petrol next week is a huge blow to consumers.

The price for petrol is expected to increase by R1 a litre from next week Wednesday after oil prices, soared to a four-year high of $82.01 per barrel yesterday.

There are also fears that supply will be affected when US sanctions on Iran kick in come November.

The AA’s Layton Beard says while paraffin is expected to increase by R 1.10 a litre, the increase of diesel of around R 1.20 is specifically worrying to the agricultural sector.

“A lot of people in the agricultural sector are making use of diesel and farmers are going to have to recoup those costs somehow and the way they recover those costs is by passing any increases over to consumers. It’s not only motorists that’s going to bear the brunt of this. Every single consumer in South Africa will somehow feel the pinch of these increases that’ll come next month.”

Beard says it’s unlikely that government will intervene again to curb the petrol price hike.

“If government were to absorb anything, it would not merely be as significant as absorbing the 25 cents of the last one. If they were to do that this time, they’de have to absorb somewhere close to 95 cents and I just don’t see government being able to do that.”

Beard says the AA would like to see a discussion or even a commission of inquiry that looks into how fuel prices can be better managed in the long term in South Africa.

 

Twitter: @FaizelPatel143 

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