According to research into motor trade sales by Statistics South Africa, South Africans are now spending more on fuel than on new cars.
The figures show the spend to be around R14.76 billion a month on petrol and diesel and just a little over R14 billion on new vehicles.
The news comes as the Democratic Alliance (DA), Outa and several taxi associations prepare to march against rising fuel costs and VAT.
Spokesperson at Automobile Association, Layton Beard says the recent fuel price increase is more about the state of the economy and about where the money gathered from taxpayers is being spent.
He says the matter needs a holistic approach to determine whether the South African taxpayers are getting value for their money.
I do know there are a lot of conversations going on around the fuel price, obviously people are worried about what they are paying for a litre of petrol, but protesting in the streets and boycotting fuel stations? I am not sure if that's going to yield the results that people want.— Layton Beard, Spokesperson at Automobile Association
There is no simple solution because the fuel price is a very complex makeup. There are a lot of different issues that come to play....— Layton Beard, Spokesperson at Automobile Association
The best advise I can give is to budget as well as you possibly can to accommodate for it.— Layton Beard, Spokesperson at Automobile Association
To hear the rest of the conversation with Layton Beard, listen below:
This article first appeared on CapeTalk : South Africans spending more on fuel than new cars