South African gasoline and diesel prices soared Economist: Higher prices may be faced in the future

The South African Ministry of Mineral Resources and Energy announced a new fuel price adjustment plan on the 1st: gasoline and diesel prices rose sharply here, causing widespread concern
in South African society.

Affected by the conflict between Russia and Ukraine, the average price of fuel in South Africa rose by more than 1 rand (about 0.
5 yuan) per liter, a record high
.

From 0:00 local time on March 1, the average price of No.
93 and No.
95 gasoline in South Africa increased by 1.
46 rand (about 0.
73 yuan) per liter, and the price of the two diesel also increased by 1.
44 rand 1.
48 rand 1.
48 rand (about 0.
72 yuan and 0.
74 yuan) per liter respectively
.
An increase in fuel prices of this magnitude immediately triggered a chain reaction
.
So far, the prices of food and other daily necessities have risen
across South Africa.

Theo Malailay, head of South Africa's National Taxi Union, said the record increase would have a "devastating impact" on industries such as taxis in South Africa, while the sharp price increase would also pass on the pressure to ordinary people
struggling to make ends meet due to the coronavirus pandemic.
"For the middle and working classes, the timing of this fuel price increase is really bad
.
" Malele said that in this case, it is necessary for the South African government to reduce some taxes and fees for relevant industries to avoid a serious blow
to industries such as taxis.

South African economist McKinley pointed out that not only in the transportation sector, but also in the price of fuel, such as electricity, water, and other life services, will also lead to a heavy burden
on ordinary people.
At the same time, he warned that the current international situation is likely to lead to higher fuel prices, so South Africans must be fully prepared
.