Today's Labour News

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petrolpumpThe Citizen reports that the Southern African Bus Operators Association (Saboa) says the latest surge in fuel prices will cost bus companies millions to stay on the road.  This was in response to the latest fuel price increase of 8.6% at midnight on Tuesday.  

Putco executive director Thys Heyns said their fuel bill had increased by R133 million since September 2017 due to several fuel price increases.  Golden Arrow Bus Services executive John Dammert indicated that the impact of the diesel fuel increase would escalate their fuel bill by approximately R37 million per annum.  Saboa pointed out that bus companies were still dealing with the additional financial burden created by the strike that resulted in a 9% wage settlement, which was in addition to their “higher input costs, lower revenues and [operating] within the context of a subdued economy [which] results in fewer bus passengers”.  It added:  “The impact of the latest fuel increase is devastating to the industry.  Most companies have already increased their passenger fares in 2018 and will have major difficulty in doing so again.  This is especially so in the light of the very tough financial situation that many consumers find themselves in and the poor performance of the South African economy.  Yet, bus companies will in all likelihood be forced to pass on this increase to passengers.”

  • Read this report by Chisom Jenniffer Okoye in full at The Citizen

Get other news reports at the SA Labour News home page