Economist warns of rising fuel prices
Updated | By Nushera Soodyal
Economist Dawie Roodt says consumers are being warned of tough times ahead as the New Year gets underway.
"The first couple of months this year will not be comfortable for the average consumer," says Roodt.
Roodt says it's likely that there will be another significant price increase at the pumps next month.
He says costs could go up by between 20 and 30 cents due to the ongoing increase in the oil price.
Motorists will from today be paying between 48 and 50 cents more for a litre of petrol. While the price of diesel has increased by 37 and 39 cents a litre.
Roodt says the Minister of Finance is likely to announce a fuel tax hike which will also send the price of petrol up.
"An increase in the petrol price is likely to lead to an increase in many other prices, including fuel and food prices. I'm afraid, as always, it will be the poor that will be mostly affected," says Roodt.
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