Fuel price hikes may cause inflationary pressure - SACCI
5 March 2019
A series of expected fuel price hikes in coming months may lead to inflationary pressure on the local economy, according to the SA Chamber of Commerce and Industry.
SA motorists will be paying 74 cents more per litre of petrol and between 91 and 93 cents more per litre of diesel from the early hours of Wednesday morning.
Minister of Energy, Jeff Radebe, said on Monday that the fuel price hike for March was caused by an increase in international crude oil prices.
The chamber, in a statement on Tuesday, said that while it acknowledged that global oil prices and the adverse rand/dollar exchange rate were chiefly responsible for price hikes, increases in petrol and diesel rise could cause inflationary pressure.