South Africans woke up to a grim reality this morning after record-breaking fuel price adjustments took effect at midnight.
Despite a temporary R3 per litre cut to the general fuel levy by National Treasury, the scale of global price surges has left motorists reeling.
The primary driver behind the fuel shock is the escalating conflict involving Iran and the closure of the Strait of Hormuz, which is a vital artery for global oil supply.
The basic fuel price (BFP) has been pushed to levels never seen before in South Africa, with petrol up by more than R3 per litre and diesel by a staggering jump of more than R7 per litre.
For motorists, the government’s R3 levy reprieve feels like a “plaster on a bullet wound”.
Low- and middle-income households are bracing for a massive knock-on effect on food and transport costs.
With the Competition Commission warning businesses against “price gouging” on food items, the question is: Can the state do more, or are we simply at the mercy of a global war?
TimesLIVE
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