According to economists at the Bureau for Economic Research (BER), South African households will be hit by higher petrol prices this week, compounding the ...
“This is near impossible to estimate in monetary terms and depends on your assumptions about the counterfactual reality without the electricity constraint. However, with the halving of the government’s R1.50 general fuel levy intervention for July, another 75 cents per litre is expected to be added back to the price on top of this. The City of Cape Town has tabled expected average increases of closer to 9.5%. “The rand lost about 4% w-o-w against the US dollar, closing weaker than R16/$ on four consecutive days last week. This will invariably feed into the wider economy, having a knock-on effect on the cost of living and various price points in general. Even more permanent solutions such as diesel generators run into trouble after consecutive days of stage 4 or more load-shedding,” it said.