SA’s petrol pain set to worsen as rand hits lowest point since March

The slide of the rand to its lowest point since March 27 on Tuesday coincided with the price of Brent crude oil rising by 0.8%, a development that should create more pain for South African motorists.

The price of petrol has already risen by 15% in 2019, with another huge hike that may see petrol rise by 51 cents a litre and diesel by five cents predicted by the Central Energy Fund .reports.While rising fuel prices are one way the effects of a weakening rand will be felt, not only motorists will be affected, as inflation will worsen and the cost of imported goods will increase.

The South African economy is still reeling from the effects of Eskom’s bout of load shedding at the beginning of the year, culminated in intensive rolling blackouts in March.that Public Enterprises Minister Pravin Gordhan has teamed up with Treasury in an attempt to convince South Africans that the battling power utility is not about to collapse.

Following news of an earlier-than-expected R5 billion cash injection into Eskom, Gordhan said that despite the financial and operational damage the utility has suffered in recent years, the problem is “well under control”.“We have the problem. We understand [what the changes are] that need to be made. Eskom is not about to collapse.

DA MP Alf Lees said Mboweni had needed to table the report according to public finance laws, but had allegedlyLees said the first R5 billion from the total amount was

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