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Motorists, brace yourselves. The cost of fuel is jumping by 49 cents a litre

27 April 2018 1:56 PM
Tags:
Economy
Fuel Price
Diesel
Petrol
Xhanti Payi
motorist
Consumers are feeling the pinch with the recent VAT increase and fuel price hike, says economist Xhanti Payi.

The price of petrol is set to rise by 49 cents and diesel will cost between 58 and 59c per litre more from 2 May.

Read: Top 3 fuel-efficient, budget friendly cars to help you save at the pump

The wholesale price of illuminating paraffin will rise by 69c per litre, while the retail price of LPG will increase by 70c per kilogram.

Also read: Panel of experts to review VAT exemption list

Economist Xhanti Payi says consumers have been grappling with price hikes on several fronts this month.

Both VAT and sugar tax were increased in April, but there was also a notable slowdown in inflation, Payi says.

We were thinking things are getting better.

Xhanti Payi, Economist and Researcher at Nascence Advisory and Research

Regulated prices do sometimes hit us at this time of the year.

Xhanti Payi, Economist and Researcher at Nascence Advisory and Research

This is such a bad month for consumers, we've had VAT increases, petrol price increases and even the taxes for sugary drinks.

Xhanti Payi, Economist and Researcher at Nascence Advisory and Research

Being poor is a very expensive exercise.

Xhanti Payi, Economist and Researcher at Nascence Advisory and Research

Take a listen to his analysis:


This article first appeared on CapeTalk : Motorists, brace yourselves. The cost of fuel is jumping by 49 cents a litre


27 April 2018 1:56 PM
Tags:
Economy
Fuel Price
Diesel
Petrol
Xhanti Payi
motorist

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