Faizel Patel, Radio Islam News – 28-04-2017
Economists have linked the latest petrol price hike to President Jacob Zuma’s cabinet reshuffle from last month.
The energy department yesterday announced that motorists can expect to pay 49 cents more per litre for petrol from next month.
Diesel is going up by between 30 and 32 cent per litre and paraffin by 34 cents per litre.
The department says the reason for the increase was the depreciation of the rand against the US dollar.
Economist Mike Schussler says the latest fuel price hike has more to do with the political upheaval in the country.
“The decline of the Rand came with the political upheaval and certainly did impact the petrol price and therefore one can say this petrol price is due to the changes in the finance ministry.”
Zuma axed former Finance Minister Pravin Gordhan based on a so-called intelligence report and replaced him with Malusi Gigaba.
– EWN
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