South Africa will see the first real result of a depreciating rand in May when petrol is expected to increase by about 50 cents a litre.The Automobile Association's mid-month data indicates petrol is to increase by up to 55 cents a litre, with diesel likely to go up by 39 cents a litre.
The Automobile Association says the country's downgrade to junk after President Jacob Zuma's controversial cabinet reshuffle will start haunting the country in months to come.
More expensive fuel will have a knock-on effect, leading to price hikes of most products. The Automobile Association says the cost of diesel is also expected to rise considerably.
Debt Rescue CEO Neil Roets says the fuel increase will have a ripple effect throughout the economy.
Lesiba Mothata of Investment Solutions says income is not growing while inflation is likely to remain high.
VIA - sabc
SOUTH AFRICA - POSSIBLE PETROL INCREASE OF UP TO 50C ON THE CARDS FOR MAY
Reviewed by Hash
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April 19, 2017
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Reviewed by Hash
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April 19, 2017
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