SOUTH AFRICA, Johannesburg, 03 October 2023: The National Automobile Dealers’ Association (NADA) stands in solidarity with South African motorists as they face a new wave of challenges following the announcement of fuel price increases by the Department of Mineral Resources and Energy. These increases, set to take effect at 00:01 on Wednesday, 4 October 2023, come at a time when consumers are already grappling with a host of economic headwinds.
The fuel price adjustments are poised to have a profound impact on the daily lives of consumers across the country. As fuel costs rise, NADA recognises the added strain on commuters and families, who are already stretched thin by existing financial constraints and the volatility of the rand-dollar exchange rate.
NADA acknowledges that these fuel price hikes are only one piece of a larger puzzle. The ripple effects extend far beyond the pump, with increased transportation costs anticipated to result in higher prices for essential goods and services. This, in turn, threatens to contribute to inflationary pressures in the South African economy and further erode consumers’ ability to meet their already cash-strapped household expenses and utility bills.
The collective challenges facing South African consumers are significant. Rising fuel prices, compounded by ongoing economic uncertainties, are contributing to an environment where families are finding it increasingly difficult to make ends meet. NADA understands the gravity of these difficulties and calls on the government to approach the situation with empathy and consideration for the well-being of its citizens.
NADA is a constituent association of the Retail Motor Industry Organisation (RMI).