A fuel price decrease will lighten the burden for heavily-indebted South Africans, a debt management firm said on Monday.
“South Africa is a deeply indebted country with the total consumer debt totalling R1.47 trillion,” Debt Rescue CEO Neil Roets said in a statement.
The decrease, announced by the energy department on Friday, would however have little impact on the more than 25 percent of South Africans who were unemployed.
“With more than a quarter of the country’s workforce unemployed, it is going to take much more than a drop of 22 cents to bring meaningful relief to consumers who are falling into debt.”
The price of all grades of petrol would drop by 22 cents a litre on Wednesday. The price of diesel with 0.05 percent sulphur would decrease by 23.58 cents a litre, and that of diesel with 0.005 percent sulphur by 25.58 cents a litre.
The wholesale illuminating paraffin price would drop by 10 cents a litre, and that of illuminating paraffin by 13 cents a litre.
The maximum retail price for LP Gas would fall by 27 cents a litre.