Motorists are bracing for another fuel price hike set to take effect on Wednesday, marking the latest in a series of increases this year. The adjustment, attributed to global oil price fluctuations and local currency depreciation, is expected to strain household budgets and business operations alike.
According to the energy regulator, petrol and diesel prices will see significant increases, with petrol rising by several cents per liter and diesel seeing a similar adjustment. This surge comes as international crude oil prices remain volatile, driven by geopolitical tensions and fluctuating demand.
Transporters and logistics companies have expressed concern over the rising operational costs, which are likely to cascade into higher prices for goods and services. Consumer advocacy groups are urging the government to explore measures to cushion the impact, including potential subsidies or tax adjustments.
Economists warn that the increase could fuel inflation, further burdening citizens already grappling with the rising cost of living. The move has also sparked renewed calls for investments in renewable energy and public transportation to reduce dependency on fossil fuels.
As the hike takes effect, motorists are advised to plan ahead, with many expected to queue at filling stations to beat the deadline. Authorities have urged the public to remain calm and assured citizens of ongoing efforts to stabilize energy costs in the long term.
