“Regardless of the global headwinds that are causing oil prices to skyrocket, South Africans are caught between a rock and a hard place, and this spells imminent disaster for households and for the country,” said CEO of Debt Rescue, Neil Roets, in a BusinessTech article.
“The reality is that the latest petrol price disaster exposes the extent of a far deeper cost-of-living crisis, driven by the fuel price increases, higher electricity and water tariffs and ongoing food inflation, which has pushed people to the very limits of their financial resources. This is deeply concerning,” Neil added.