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If You Think Level 3 Was Bad Wait Until Wednesday For The Worst

The entire country was eager to cross over to 2021, after the hardships of 2020. By the look of things, it seems there is nothing good for the country in 2021. The cost of living has increased sharply and many people have lost their jobs, as the economy is hit by the second wave of Covid-19 pandemic.

The department of Minerals and Energy has also announced that, as of Wednesday the 6th of January, motorists and transport industry across the country will be hit hard, when fuel prices increase by more than 40 cents per Litre. Under level 3 lockdown thousands of small businesses and taverns have closed, the restaurant sector which was trying to recover is severely affected, the entertainment industry is the worst hit.

According to the Degartment of Minerals and Energy, as of Wednesday Petrol 95 will increase by 40 while 93 ULP will cost 43cents more. Diesel will increase by 55 cents, and illuminating paraffin will increase by 55 cents. 

The department further said the appreciation of Rand coupled with an increase in international Brent Crude oil prices, has let to this sharp increase in fuel. This will also affect consumers as the taxi industry may consider increasing its prices. The cost of transporting food will also increase which may escalate to consumers. 

The country has not had a good start for 2021 with president Ramaphosa moving the country to level 3 lockdown. Many jobs have been lost, and by the look of things the country will not recover now.

Content created and supplied by: Mosware (via Opera News )

Brent Crude Covid-19 Minerals and Energy Rand ULP


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