Massive fuel price hike looms in May

The Automobile Association of South Africa has raised concerns over rising fuel prices and the knock-on effect of fuel surcharges across multiple industries.

AA Chief Executive Officer Bobby Ramagwede attributes the pressure to ongoing tensions between the United States and Iran, which have disrupted global crude oil supply and contributed to a record fuel price adjustment by South Africa's Department of Mineral and Petroleum Resources.

Earlier this month, local motorists were affected when the price of petrol increased by R3.06 per litre, while diesel rose by R7.37.

Meanwhile, Data from the Central Energy Fund for the end of the third full week of April shows that motorists are still in store for a big price hike at the pumps in May—despite the early-month shock receding significantly.

What will the impact of this be on already struggling households and the South African economy?

To find out we are joined by economist Doctor Azar Jammine.

For more news, visit sabcnews.com and #SABCNews on all Social Media platforms.