Expect another massive fuel price increase this October

Petrol pump  Image via Wikimedia Commons

Petrol pump Image via Wikimedia Commons

A litre of petrol was purchased at a price of Rs. 86.28 in Chennai and Rs 84.82 in Kolkata, according to a price notification of state-owned fuel retailers The revised price of diesel in Mumbai stood at Rs. 78.82 per litre.

"Excluding months where fuel taxes were hiked‚ this will be the largest single fuel price increase South Africa has ever experienced‚" the AA warned.

While South African's were saved from a major fuel hike in September, thanks to government intervention, October promises to raise the petrol price to new highs.

"These increases are catastrophic for road users", the AA says.

Fuel users are facing unprecedented price increases in October. "They're the biggest in South African history - and the major culprit is South Africa's chaotic economic policy which has left us defenceless against upticks in worldwide oil prices".

National Hockey League to investigate Lehtera after drug story
A spokeswoman for the police department did not immediately respond to a message seeking comment. No charges have been filed against him and he's reportedly denied all wrongdoing.

The AA said the major culprit behind these increases is the chaotic economic policy in South Africa and recent upticks in worldwide oil prices. In Delhi, petrol rate touched Rs 83 per litre while diesel price reached Rs 74.24 per litre on Thursday.

"We estimate this increase could take an extra R2.5 billion a month in transport costs out of an economy that is already on the ropes", Beard said.

Internal factors: These include rising prices in crude oil, transport costs, and taxes and levies.

Worse still, is South Africa's technical recession - the first of its kind in nearly 10 years.

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