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This week's decision by the Reserve Bank to hike interest rates by 50 basis points, taking the repo rate to 4.75%, the biggest rate jump in six years, will further squeeze an already pressed consumer and economy. But with a massive fuel price hike looming on the horizon, it can only get worse. Next month's fuel increase can potentially push prices to as high as R25 per litre at the pumps. Some are calling on the government to extend its temporary relief on fuel taxes to be extended beyond the 31 May deadline. The Road Freight Association has warned that uncontrolled fuel increases can lead to a collapse of the road freight logistics sector. We spoke to CEO of the Road Freight Association, Gavin Kelly.
By SAfmThis week's decision by the Reserve Bank to hike interest rates by 50 basis points, taking the repo rate to 4.75%, the biggest rate jump in six years, will further squeeze an already pressed consumer and economy. But with a massive fuel price hike looming on the horizon, it can only get worse. Next month's fuel increase can potentially push prices to as high as R25 per litre at the pumps. Some are calling on the government to extend its temporary relief on fuel taxes to be extended beyond the 31 May deadline. The Road Freight Association has warned that uncontrolled fuel increases can lead to a collapse of the road freight logistics sector. We spoke to CEO of the Road Freight Association, Gavin Kelly.

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