Road users are having to pay more and more for their driving! The fuel price will increase by 29 cents a litre on Wednesday.
The diesel price is also going up by 16 cents a litre from next week.
The increases come as new figures show that Producer Price Inflation, the increase in prices at the factory gate, has risen.
New figures released on Thursday show that PPI was 7.3 percent year on year in March, up from 6.7 percent in February.
PPI measures the average changes in prices received by domestic producers.
Economist Chris Hart said this will lead to higher food prices.
“This number would be quite a bit higher if the rand had been weaker. The big saving grace for South African inflation so far has been the strength of the rand,” he said.
[Info from Eyewitness News]
It is expected that vehicle owners will have to consider closely how they drive, how far they drive and how they can reduce unnecessary travels.
We would like to urge vehicle owners to pay close attention to their car insurance in the same way that they do with their other vehicle costs. If you drive less – consider an insurance product that allows you to pay for how much you drive!
Also view: Pay As You Drive and Car Insurance
Vehicle and Insurance Telematics
What is Insurance Telematics and how will it impact on Car Insurance?