The electricity and petrol prices are set to increase

BY: SINETHEMBA ZONDI

Consumers in South Africa are set to face higher electricity prices following yesterday’s slight decrease in petrol prices. Eskom plans to implement a 12.74% annual increase in electricity prices until 2024/25, while petrol prices are expected to rise by 67 cents per litre today.

Diesel prices globally are projected to increase by 3 cents per litre, with coastal provinces experiencing a 4 cents per litre hike. The surge in petrol prices is attributed to growing global demand for the product and disruptions in the supply chain.

Professor Bonke Dumisa emphasizes the significance of government-administered prices, affecting rates, electricity, and petrol prices, expressing concern over the continuous rise in electricity prices potentially leading to ongoing energy poverty.

Dumisa said “the continuous rise in electricity prices is concerning because it can lead to ongoing
energy poverty.”

Dumisa criticizes Eskom for prioritizing profit over fulfilling its service obligations.

Layton Beard from the Automobile Association predicts an imminent increase in fuel prices for motorists, warning of its detrimental effects on consumers. He expresses worry that workers’ wages are not keeping pace with rising petrol prices, potentially impacting public transport costs. Beard advises motorists to adopt efficient money-saving methods like carpooling whenever possible, concluding that using vehicles sparingly can help save on petrol costs.

“Using your vehicle sparingly will help you save money on petrol”, Beard concludes.

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