By Newsbreak Senior Producer Taresh Harreeparshad - While South African's brace themselves for potentially exorbitant fuel price hike next month- economist John Loos says the private transport sector will be the hardest hit. He was basing this on the 2022 oil price surge- where the private transport inflation rate peaked 45.64% year-on-year in June 2022 while the minibus taxi fare inflation rate peaked at a significantly lower 19.6%. Geo-political uncertainty following the conflict in Iran has plunged global oil prices into the red. Current data from the Central Energy Fund suggests an approximate price increase of over R7.00 per litre for diesel while petrol could surge by over R4.00 per litre. But while the public transport sector may better endure the financial storm brewing- Loos says the ripple effects for the lower income consumer will be strongly felt...

<p>By Newsbreak Senior Producer Taresh Harreeparshad - While South African's brace themselves for potentially exorbitant fuel price hike next month- economist John Loos says the private transport sector will be the hardest hit. He was basing this on the 2022 oil price surge- where the private transport inflation rate peaked 45.64% year-on-year in June 2022 while the minibus taxi fare inflation rate peaked at a significantly lower 19.6%. Geo-political uncertainty following the conflict in Iran has plunged global oil prices into the red. Current data from the Central Energy Fund suggests an approximate price increase of over R7.00 per litre for diesel while petrol could surge by over R4.00 per litre. But while the public transport sector may better endure the financial storm brewing- Loos says the ripple effects for the lower income consumer will be strongly felt...</p>

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