Black Business Council concerned over latest fuel price increase

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The Black Business Council (BBC) has voiced its concern over the latest increase in fuel costs, saying commuters who use public transport are going to face further financial challenges.

The Department of Minerals, Resources, and Energy has announced that the price of fuel will increase by 28 cents a litre for all grades of petrol, while diesel will increase by 9 cents per litre.

The department says the decision was informed by the higher oil prices in the global markets and the rand’s appreciation against the dollar.

The Council’s President, Elias Monage says, “The impact is going to be severe. The transport costs are basically 35%-40% of their income. A further increase on petrol and diesel means the taxis are going to increase the costs. The workers are not going to get a rebate or an adjustment to anyone.”

On Tuesday, the Congress of the South African Trade Union (Cosatu) lashed out at government for failing to cushion the rising cost of living for many South Africans.

Cosatu says consumers will be unable to meet their basic needs as the cost of electricity and petrol escalates.