'Fuel increase will have devastating effect on consumers'
Debt expert and CEO at Debt Rescue, Niel Roets, believes the latest fuel price hikes will have severe effects on consumers during the coming festive season.
The National Energy Department announced that petrol will increase by 71c per litter and diesel by between 57 cents and 63 cents per litre on Wednesday.
Roets says the hefty increases will make it very difficult for the consumers to survive.
"The rise [in the fuel price] will have devastating effects on consumers because of the fact that they [consumers] have had a very difficult year. We have seen a lot of price increases. Especially now, approaching the festive season, people tend to overspend because there are a lot of emotional spending going on."
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"People also get their salaries earlier the month. There is a very long time till the end of January. Therefore, the fuel increases, is going to make it very difficult for consumers to survive. It is advisable to draw up a separate budget for the festive season," says Roets.
JUST IN: #Petrol price will increase by 71c per litre on Wednesday.
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Diesel will increase by between 57 cents and 63 cents per litre.
Paraffin will increase by 73 cents at wholesale level.
LP gas will increase by R2.04 per kilogram.