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Cape Times reports that with fuel prices expected to increase again, trade union federation Cosatu says the government should invest more in public transport and Transnet to cushion the poor from the rising cost of living.
This comes with the AA expecting a slight increase petrol prices in April based on unaudited data from the Central Energy Fund (CEF). It added that the data also pointed to a marginal decrease in diesel and illuminating paraffin prices. Cosatu’s Matthew Parks said the expected decrease in diesel and paraffin would provide welcome relief for workers and the economy, though that might be offset by the increase in petrol. “While there is little government can do about the price of oil, it should reduce the fuel taxes, ensure all Metrorail lines are running, invest more in public transport and Transnet to cushion the poor from the rising cost of living. It is also important Eskom be assisted to reduce its dependency on double-digit tariff hikes and solar panels be rolled out across working-class communities,” Parks commented. Bureau for Economic Research economist Tracey-Lee Solomon advised: “So far the March average for the benchmark Brent Crude oil price is above the average recorded in February. Although oil prices are up, there is a divergence between the different oil product prices, namely petrol (gasoline) and diesel. This is due to refinery output.”
- Read the full original of the report in the above regard by Nicola Daniels at Cape Times
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