South Africa: Uncertainty As Petrol Price Increases On Wednesday
It appears like hard times might be just around the corner for South Africans as the price of petrol takes a jump amid economic uncertainties.
The Department of Mineral Resources and Energy announced price hikes on Friday, which is expected to start reflecting on Wednesday, November 2.
Then is especially interesting because the new month began on a note of hope for many, and many have embedded their wishes on Twitter and other platforms with a message that goes or begins with the phrase “Dear November.”
With the price hike, it appears like the new month is already lashing the Rainbow Nation and the “Dear November” peddlers with a sardonic grin.
Anyway, while announcing the increase in the price of petroleum products, the Department of Mineral Resources and Energy noted that it was due in part to the weakening of the rand and the rising costs of the same products internationally.
According to analysts, the increase in the price will likely affect other sectors, as transporters increase fares and, correspondingly, traders increase the cost of their products.
South Africans have resisted the increase in the price of petrol previously. It’s unclear whether similar resistance will erupt on Wednesday when the increase would have taken effect.