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Economist attributes petrol hike to petrol tax increase

Economist at ETM Analytics George Glynos says if more taxes are layered petrol prices will keep increasing.

Petrol pumps. Picture: EWN.

JOHANNESBURG – An economist says the hard-hitting petrol hike of 82 cents a litre can partly be blamed on government’s decision to increase taxes on petrol.

Some say while the obvious reason for the increase is the high exchange rate and increased crude oil prices, some of the hike has been self-inflicted by decisions taken by the government

Economist at ETM Analytics George Glynos says if more taxes are layered petrol prices will keep increasing.

“The general trajectory of petrol prices is going to be higher.”

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