South Africans are facing contrasting financial shifts this week, with the arrival of social grant payments providing some relief, but rising fuel prices presenting a new financial hurdle for motorists. The government is aiming to strengthen the Covid19 Social Relief of Distress Grant and match social grants with inflation, but Finance Minister Enoch Godongwana acknowledges the limits of the country’s financial aid. South Africans are urged to stay informed and adapt to the economic realities, drawing on their resilience and perseverance to navigate through the changes.
South Africa’s fuel prices are subject to a complex web of factors, including the international oil market, exchange rates, taxes, and levies. The government’s “slate levy” system aims to balance global and local fuel prices, while regional differences also impact the cost of fuel. Changes in fuel prices have a significant impact on the economy and household budgets, with social media platforms reflecting public sentiment on the issue. Despite the uncertainty of the volatile oil market, South Africans remain resilient in the face of fluctuating fuel costs.
Discover the enchanting city of Cape Town through its art, food, and entertainment in this feature that highlights the city’s vibrant culture, stunning views, and exciting events. Join foraging workshops at Veld & Sea, heed the warnings about smashandgrab incidents, and celebrate the rebirth of South African Airways. Delight in the return of beloved fish spreads at Pick n Pay and indulge in the culinary creations of Franschhoek Creates. Don’t miss out on the Galileo Open Air Cinema and the sweet gift given to rugby star Ox Nche.
South Africa’s Minister of Mineral Resources and Energy, Mr. Gwede Mantashe, has recently announced fuel price adjustments that will take effect from the 7th of June 2023. These adjustments are conducted on a monthly basis and are based on a range of local and international factors.
Lagos, one of the world’s most populous cities, is home to around 20 million people. Commuting within the city has always been a notorious challenge, but the recent spike in fuel prices has made life even more difficult for its residents. On May 29th, 2023, following the swearingin of President Bola Tinubu, fuel prices in Nigeria almost tripled as the government announced the removal of subsidies.
On April 5, South African fuel prices will see some changes. According to the Department of Mineral Resources and Energy, diesel prices will decrease by over 73 cents per liter. At the same time, 93 unleaded petrol will see a marginal 1cent decrease and 95 unleaded gasoline will increase by 2 cents.