Price hikes spell double trouble for SA

In what is sure to be a devastating double- whammy for many, the cost of electricity and fuel were hiked up dramatically within days of each one another.

The National Energy Regulator of South Africa (Nersa) recently approved Eskom’s request to raise electricity tariffs for the period of Monday April 1 2019 to Tuesday March 31 2020.

Under the new tariffs, direct customers will pay an additional 13.87% while municipalities will begin paying 15.63% more from July 1 onwards.

In addition to this tariff hike, fuel prices were also raised on Wednesday April 3 by over more than R1 for all fuel types.

According to the Automobile Association (AA), the new prices for all grades of fuel are now as follows:

  • Unleaded 93 is now R15.53 – an increase of R1.29;
  • Unleaded 95 rose to R15.49 – an increase of R1.26;
  • LRP rose to R15.53 – an increase of R1.30;
  • Diesel 500ppm rose to R14.40 – an increase of 77c; and
  • Diesel 50ppm rose to R14.32 – an increase of 76c.

This doesn’t take into account the 29c increase to the national fuel levy, so final prices will likely be higher.

This dramatic price increases come shortly after an extended period of load-shedding which saw SA subjected to Stage 4 conditions for over more than two weeks which is estimated to have cost the country billions in lost revenue.

LEAVE A REPLY

Please enter your comment!
Please enter your name here