Petrol Price To Increase Wednesday Midnight
Motorists expected to dig deeper once more into their pockets as petrol price is due to increase on Wednesday midnight. Read further for more.
Fuel hikes were announced by the Minister of Mineral Resources, Gwede Mantashe, in a statement on 2 August 2021 citing international and local factors.
Mantashe stated that the main reasons for the fuel hikes are as a result of crude oil which increased from 73.00USD to 74.00USD per barrel. Petrol prices are expected to increase from Wednesday, 4 August, as follows:
- Petrol 95: Increase by 91 cents per litre
- Petrol 93: Increase by 91 cents per litre
- Diesel 0.05: increase by 55.58 cents per litre
- Diesel 0.005: increases by 54.58 cents per litre
- Paraffin: increase by 50 cents per litre
The Econometrix Director and Chief Economist Dr AZA Jammine believes that the new fuel hikes will have a severe impact on consumers.
The consumers will now have R2.50 less for every R1000 that they spend. It is not huge, but it makes a difference in food prices.
Dr Jammine says the world economy is doing well in industrialized countries that distributes vaccines. This means transport is being used as people travel more and it leads to a huge demand for crude oil causing oil prices to rise.
Experts also cited the loss of power in rand because of the recent looting riots which took place in KwaZulu-Natal and Gauteng province for these price hikes.
Its reported that the effects of being in a lockdown for over 495 days has also caused slow growth in the economy compared to other countries.
Dr Jammine however says there is light after dark, citing that the country’s economy was recovering well before the looting unrests.
He said now that calm has been restored, the recovering state is expected to continue as government offered to help businesses to rebuild.
Also, he added that this fuel increase has more to do with Crude oil demand worldwide than it is for South African economy.
Dr Jammine says until all the lockdown rules are lifted, the country will not see any significant growth in economy.
Motorists can expect to pay 91 cents extra by Wednesday midnight per litre which is also expected to affect public transport users.
A police officer in the North West has been reportedly dismissed from work for allegedly impregnating a prisoner. It is also alleged that the pregnant inmate was awaiting trial for murder and expected to be sentenced to 30 years in jail.
There are looming concerns that elections could become a super spreader event as South Africans prepare to go to the polls on October 2021. The fourth-wave has already been predicted by health expects in December, and going to the polls could be confirming the possibility of the fourth-wave.
Even though the country has a good supply of the COVID-19 vaccine, the Department of Health is still struggling with the issue of vaccine hesitancy among the citizens of South Africa. Despite the statics which shows that majority of infected patients in hospitals are those who are not vaccinated, vaccine hesitancy is still a problem.
Most popular articles today
The Groote Schuur hospital has recently released a report which highlighted that a significant number of its Covid-19 patients are unvaccinated. Reports said about 156 were hospitalised and 153 of those patients were not vaccinated.
Did you watch 'The Braai Show With Cassper Nyovest'? Former Miss Universe and beautiful Zozibini Tunzi joined Cassper Nyovest on Wednesday evening for the first episode of 'The Braai Show With Cassper Nyovest' as the first guest of season 2.
Deputy President David Mabuza is calling on all citizens to get vaccinated to lower the country's infection rate. He was speaking during the launch of the Vaccination Social Mobilisation campaign that has been launched in collaboration with the Department of Sports, Arts and Culture.
Other people were also interested in:
Health regulator, SAPHRA, is calling on all members of the public to report any side effects experienced after inoculation through official channels. Here's how members of the public can go about doing it.
At least 337 cases of alleged corruption in government departments have been reported to the National Anti-Corruption Hotline (NACH) in the period between April and the end of June this year. This is according to a report released by the Public Service Commission (PSC) on Thursday
There are calls for mass media to dedicate vaccination campaigns based on science and evidence to prime time slots. This follows concerns around vaccine hesitancy as a result of the spread of misinformation about the safety of vaccines.
Organised labour unions are calling for the permanent introduction of a basic income grant in South Africa starting next year. This comes at the back of reports that unemployment in the country has sky-rocketed to 34%.