Debt Rescue CEO, Neil Roets said that another fuel price increase in May should be treated as a red alert for South Africa.
“Asking consumers to once again “brace” for impact issimply not realistic. Most households have already run out of room to adjust their budgets.They are hanging on by a very thin thread,” Roets said.
He added that the real concern lies in the broader economic impact.
“Fuel price increases, particularly in diesel, drive up the cost of transporting goods, which in turn pushes up food prices and essential household expenses. Consumers are hit on multiple fronts, and this will inevitablyplace upward pressure on inflation. The knock-on effects are deeply concerning. For millions of South Africans, the cost ofcommuting, whether by private vehicle or public transport, is becoming unaffordable. Travel to and from work is becoming increasingly financially unviable, especially for lower-incomehouseholds,” Roets said.
The Debt Rescue CEO further said that that more needs to be done to cushion households from yet another fuel price shock.