COSATU Laments Further Economic Stress As Fuel Costs Surge
Written by Mduduzi Phungula on 5 September, 2023
By: Pamella Majola
The Congress of South African Trade Unions (COSATU) fears this month’s significant fuel price hike will worsen the fragile economy and the plight of the working class.
The substantial increases, including R1,71 a litre for petrol for both 93 and 95 octane, R2,84 for diesel, and R2,78-cents a litre for paraffin, are expected to drive up inflation.
This could also prompt the Reserve Bank to raise interest rates.
Cosatu’s Matthew Parks urges the government to fulfil its promises to review fuel taxes.
