Debt Rescue CEO, Neil Roets, has warned that South Africans simply cannot afford to pay more for fuel while their salaries remain stagnant.
The Department of Mineral Resources and Energy announced a massive increase in the price of petrol and diesel for November.
From midnight on Tuesday, the price of petrol will increase by R1.21 per litre, while all grades of diesel will cost R1.48 per litre more.
Roets says the increase will have a devastating effect on consumers.
“Unfortunately, the situation in South Africa is that with this petrol price increase it is going to have a really negative impact on consumers because consumers are already struggling financially. So if we see a petrol price increase and the salaries are not going up in line with this petrol price increases, it is just making life difficult for consumers out there.
“Because of the pandemic and because of the fact that people have been struggling with lowest salaries, this is really going to have devastating effects on consumers and it is not something they can afford right now.”
Roets says many consumers are already surviving on debt.
“We are seeing a massive increase of people becoming over-indebted, sometimes people are so over-indebted that sometimes it is difficult to assist them. But there is still hope because in South Africa we have legislation that allows us to assist consumers to get out of debt.”
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