The recent fuel price cut will have most consumers in good spirits, as it will increase their spending power, according to Abigail Moyo, spokesperson of the trade union UASA.
Moyo says, “Particularly parents of school-going children will be in good spirits as it will put more disposable income in their pockets, heightening their spending power.”
The Department of Mineral Resources and Energy (DMRE) announced that the price of 93 and 95 petrol will decrease by R2.06/l, and 500 ppm and 50 ppm diesel by R2.68/l and R2.08/l, respectively.
The wholesale price of illuminating paraffin will fall by R1.93/l and the retail price by R2.58/l. LP gas will increase by 82c/kg.
“As most workers end their festive season and learners prepare to return to school, UASA is pleased about the effect of the lower prices on South African pockets,” Moyo further said.
BUSINESS REPORT