[ad_1]
As consumers struggle to absorb a hike in VAT and sharp increases in gasoline, South Africa's latest statistics show that for the first time since 2014, South Africans are spending more for to buy fuel [19659002Threeneedsofnewneedsare2641%thatislessthanthe2794%estimatedtotalof204fillexpenditureforBusinessInsiderSASouthAfricanMarketInsights
. 14.76 billion rubles a month for fuel, and just over 14 billion rubles for new vehicles.
"This phenomenon is not uncommon in South Africa, however, during financial crises, fuel prices have exploded and new car sales have fallen as people cut spending," he said. the site of financial badysis.
South African Market Insights also thinks that the gap between the two will widen, with fuel expenses far exceeding new vehicle expenses as fuel prices rise.
The government is currently working on measures to reduce the economic impact of a devastating fuel price hike in July, pushing for the first time the price of the liter to the interior of the land coastal areas of R15.43 per liter.
President Cyril Ramaphosa said that he was in talks with Ghanaian President Nana Akufo-Addo for a possible trade deal with the oil producing country in order to bring down prices.
The DA called on Ramaphosa to reduce the R3.37 tax by 20% on one liter of fuel.
[ad_2]
Source link
