Neil Roets, CEO of Debt Rescue said that consumers are facing an increasingly untenable financial reality and the latest fuel price increases have significantly intensified that pressure.
Roets said, “Consumers have already adjusted their behaviour in response to earlier increases. Many are driving less, reducing trips, and cutting back wherever possible. However, there is a limit to how much further households can tighten their budgets, especially when daily commuting is essential to earning an income.”
“We are now seeing a growing number of consumers being forced into difficult trade-offs, choosing between transport, food, and meeting financial obligations. For many, this balancing act is no longer sustainable,” Roets addded.
The Debt Rescue boss said, “There is also concern around what lies ahead. The temporary fuel levy relief is set to reduce in the coming months, combined with ongoing increases in electricity tariffs and food prices, this creates a risk of a deepening financial crisis for households. At a human level, this is no longer just about rising costs. It is about survival. Without meaningful relief or stability in key cost drivers, more South Africans will slip into financial distress in the months ahead.”