The Independent Municipal and Allied Trade Union (IMATU) is very concerned about the knock on effects the latest fuel price increase will have on its members and fellow South Africans. From 1 May 2019, the price of petrol will increase by 54 cents a litre, diesel will increase by 1c and illuminating paraffin will cost 3 cents more.
“This will be the fourth consecutive fuel price hike this year. Rising fuel prices directly push up fuel transport costs and the price of goods, placing further burden on already cash-strapped and indebted consumers,” explained IMATU General Secretary, Johan Koen.
IMATU has previously cited domestic policy uncertainty, poor implementation and unemployment as the significant factors affecting South Africa’s economic growth.
“Earlier this year we appealed to the Monetary Policy Committee to lower interest rates in a bid to increase disposable income, promote growth through enhanced household spending capacity and mitigate against continuously increasing living costs. This latest increase may prove the last straw for workers, who are expected to make do with increasingly less,” stated Koen.