As South African consumers face another challenging month, June brings significant fuel price hikes alongside an interest rate increase from the South African Reserve Bank. While petrol prices rise, diesel users will see price cuts. Trade unions are urging the government to provide further relief to mitigate the impact on workers and the economy.
As we mark the half way point of the year, June brings yet another speed bump for South African consumers, after fuel price increases kick in on Wednesday, compounded by the interest rate hike announced by the South African Reserve Bank (Sarb) that also came into effect this month.
Petrol prices will rise significantly while diesel users will benefit from substantial price cuts.
Motorists filling up with petrol will see prices increase by R1.43 per litre, Diesel users, however, will benefit from significant decreases, with diesel containing 0.05% sulphur falling by R3.25 per litre and diesel containing 0.005% sulphur decreasing by R2.62 per litre.
The Congress of South African Trade Unions (Cosatu) has urged government to provide further Fuel Levy relief to cushion embattled workers and the economy from the massive fuel price hikes that have wrecked havoc since the commencement of the war in the Persian Gulf.
