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Higher fuel prices set to hit inflation-weary South Africans

Higher fuel prices set to hit inflation-weary South Africans

  • South Africa is in an energy crisis due to rising global oil prices and a heavy dependency on oil imports. Higher pump prices in October will, however, worsen the case for millions of South Africans.
  • The Automobile Association (AA) predicts hike in petrol, diesel, and paraffin prices for October. Up to 80% of the projected petrol and 86% of the set diesel price increase is attributable to the surge in global oil prices.
  • If these increases materialize, they could drive fuel prices to levels last seen in July 2022, adding to the financial strain on citizens already struggling with economic challenges.

The energy crisis gripping South Africa is set to intensify as rising global oil prices, coupled with a heavy dependency on oil imports, threatens to trigger economic fallout in the country. The expected announcement of fuel price increases for October, will put further strain on the country’s economy.

According…

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