Doom and gloom as inflation looms

Following government’s decision to once again increase the price of fuel, experts expect inflation to follow, particularly in the transport and energy sectors.

The Ministry of Mineral Resources, Green Technology and Energy Security announced that petrol prices would be increased by 65 thebe per litre, whilst diesel would rise by 73 thebe per litre.

The latest price hike, which came into effect at the start of the week, marks the fourth time the cost of petroleum has been pushed up in the last 11 months.

In total, since last November petrol has risen by P1.38 a litre whilst diesel has incurred a P1.68 increase.

It means a litre of diesel now costs P9.14 whilst petrol is charged at P9.22 for 95 and P9.10 for 93.

Paraffin also rose by 63 thebe per litre, with government reasoning that upward adjustments of these retail prices was necessitated by the growing under recoveries since September 2017.

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