The petrol price has surged to R26.62 a litre, while diesel has crossed the R31 mark for the first time.
According to Scherman, the government has lost significant revenue and those funds will need to be recovered.
READ: ‘No more random trips’: Motorists fill their tanks amid midnight fuel price increase
Consumers may eventually need to rely on debt to bridge the gap between what they can afford and what they are earning.
“The increase in prices also drive up inflation,” says Scherman.
“Inflation leads to interest rate increases, meaning monthly debt repayments may increase.
READ: Rising fuel and food prices squeeze household budgets
“This means less disposable income,” he says.
“Moving…
Mineral Wealth: South Africa is rich in natural resources, including gold, platinum,
diamonds, coal, and chromium, contributing significantly to the economy.
Morbid Angel
Finland: You have two cows. They are more likely than your entire country to commit a crime.
Sugar Apple
Imagine jou ma skep jou kos in \’n bakkie…en die bakkie ry weg.