The price of diesel is expected to increase for the fourth consecutive month on Wednesday, while petrol and illuminating paraffin prices will increase for the third consecutive month, according to the Automobile Association (AA).
Diesel is expected to increase by about R1.60/litre, while petrol is expected to increase by between 75c/l and 80c/l, depending on the grade.
Illuminating paraffin is expected to rise by more R1.50/l.
As was the case with the previous increases, these latest significant adjustments are attributed to rising “international oil prices”, the AA said, adding that these increases will hit all consumers hard, at a time when most South Africans are feeling extreme financial pressure.
“It remains concerning, however, that in the face of these increases, the government remains silent on its plans, if there are any, on a way forward to deal more effectively with fuel price increases.
“As the end of the year approaches many people will be making plans for their annual vacations.
“Part of that planning must include budgeting properly for fuel expenses now, and including some extra funds to offset possible additional increases that may occur in November and December,” the AA said.
Congress of South African Trade Unions (Cosatu) acting national spokesperson Matthew Parks said the working class would be the most affected.
“It may spur inflation, which has been falling, and thus nudge an already excessive Reserve Bank to increase the repo rate once again. Poor households are already struggling to survive under these difficult conditions, and an increase in the price of paraffin will leave many poor families worse off.
“This increase in fuel prices creates a level of hardship for a society already suffering from high levels of unemployment and stagnant or declining real wages.
“Low and moderate-income families are plunging further and further into debt because their wages are inadequate to afford the basic amenities.
“While there is little that the government can do about the international oil price volatility, it can, as it did in 2022, provide relief to commuters and the economy by lowering fuel taxes,” said Parks.
Progressive Professionals Forum (PPF) president Kashif Wicomb said: “Many businesses are running generators, and by yet another increase, it will cost more on their pockets. Our concern is that businesses will start to cut their costs and start retrenching people, and this will have a devastating impact on households.
“We appeal to the private sector to not increase the prices of food,” he said.
Cape Times