SA households face mounting financial pressure as fuel prices rise - EWN

Debt Rescue is warning that sustained fuel price increases are eroding the financial resilience of South African households.

The organisation’s COO, Annaline van der  Poel, said that November’s marginal price relief does little to undo months of higher transport, food and electricity costs.

She said that many consumers have depleted their savings and increasingly rely on credit to cover everyday expenses.

Van der Poel warns that the cumulative pressure is turning a temporary cost-of-living squeeze into a more entrenched household affordability crisis.

“The one cent decrease in petrol prices this November offers virtually no financial relief to South African households. Government’s temporary fuel levy reduction has certainly helped prevent another substantial increase, but the underlying pressure remains."

Never miss a major story. Get breaking news and the latest developments from South Africa and beyond as they happen.