Fuel price hikes ‘pushing middle class into poverty’
Debt Rescue CEO Neil Roets says the looming massive fuel price hikes will continue to have both a direct and indirect impact on South Africans’ pockets.
The fuel price adjustments for June are set to kick in at midnight on Tuesday.
The price of both petrol and diesel could rise by as much as R3 a litre, and Roets says this could push the already over- indebted middle class over the edge.
"The fuel prices increases will definitely worsen the over indebtedness in South Africa, more especially because it is going to be a massive price increase. People in South African are already over-indebted, especially coming from Covid and the lockdown where we have seen salaries cut and job losses.”
Roets warns the price increases are pushing the middle class into poverty.
"On top of that price increases are going to push the middle class in South Africa to poverty and making them more indebted.”
Indications are that the cost of petrol could go up by between R2.27 to R2.37 a litre - which see a litre hitting a high of R25.
“People from the working class can not afford to have any more increases,” says Roets.
ALSO READ
