DURBAN - With the expected petrol price increase of 56 cents a litre just days away, debt-stressed consumers are going to have to cut unnecessary expenses to the bone if they hope to get through the month without running out of cash while diesel is expected to remain flat.
Dawie Roodt, Chief Economist at the Efficient Group said that this fourth increase in a row might not be the end of it and that further price hikes in the next few months were “highly likely” and could take the country beyond the historical high prices notched up in the recent past.
"Increased American sanctions against Iran, one of South Africa’s major suppliers of crude oil, are definitely going to be a factor as will the rand dollar exchange rate and the outcome of the upcoming election," said Roodt....
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