The Cape Chamber of Commerce says the latest fuel price hike reflects the state of the nation.

Chamber President, Jacques Moolman says the effects of more expensive liquid fuels, including gas, will be felt on everything.

Moolman says increased fuel prices will amount to higher transport costs.

“There is no point complaining because it is very little, if anything the government can or will do to halt the process or reduce the impact.

The government’s track record of running economic entities like Eskom and the hundreds of other state-owned enterprises constantly broadcasts negative signals to potential investors and all foreigners. Their opinion among other things affects the value of the Rand.”

The Energy Department said earlier there has been a mistake in the publication of the new petrol price for December.

The actual increase is 75 cents per litre and not 81 cents per litre as announced earlier.

On Monday, the department announced petrol price increases for both grades of petroleum.

The hikes are due to a weaker rand and higher oil prices.

Concerns raised over latest petrol prices: Chriselda Lewis: 

The department’s Robert Maake said they have communicated with the petroleum industry and adjustments will be effected immediately.

“The department would like to inform the public that the petrol prices announced on 29 November were overstated by 6 cents. Both grades of petrol 93 and 95 will increase by 75 cents per litre instead of the 81 cents per litre that was announced.”

“The 6 cents difference is due to the fact that the adjustment wages for service station employees had already been implemented in September. The department has informed all the stakeholders in the petroleum industry to effect the corrections immediately,” says Maake.