Santaco set to review price increase suspension as fuel price increases

Estimated reading time: 3 minute(s)

Photo: Google

As fuel price hike is set to hit record high, public transport and logistic industries will obviously be among the most hardest hit.

Department of Mineral Resources has a statement saying as of March 2nd this coming Wednesday fuel price will increase by over R 1.40c all-round with 95& 93 petrol increasing by R 1.46.

The statement prompted Santaco to release a statement saying they are set to review their decision to suspend price increase.

“The petrol price increases for the past 4 months at the very least, has put the industry in a corner. Pressure is too much, we will review our decision to suspend increases.”

“While fuel is a significant cost towards taxi operations, it’s not the only cost. All other costs have increased, fuel just happen to be the steepest rise. It pushes us to review. This is now up to our National Executive Committee to finalise this matter” added Santaco.