1 minute read
4 Jun 2014
6:00 am

Too little relief from fuel drop


While any drop in the fuel price is welcome, the latest decrease will not go far in easing the burden of already over-indebted South Africans.

The price of all grades of petrol dropped by 22 cents a litre today. The price of diesel with 0.05% sulphur decreased by 23.58 cents a litre. These are difficult times for the country, with sobering revelations that we are on the brink of a recession due to a contracting economy. The 18-week wage strike by more than 70 000 miners has shut mines on the platinum belt and is having a devastating impact on the economy, since mining accounts for two-thirds of the nation’s exports.

The fuel decrease will have little impact on the working class, the majority of whom are drowning in debt. Sadly, this drop will not go far enough in bringing meaningful relief to consumers falling into debt.