Fuel price hike could force truck businesses off the road

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The global oil price is the largest determinant of fuel costs in South Africa. Photo: Supplied/ Archive
The global oil price is the largest determinant of fuel costs in South Africa. Photo: Supplied/ Archive

BUSINESS

The huge rise in fuel prices will cause a surge in freight rates, as well as trigger retail businesses to pass additional costs to already strained consumers.

On Wednesday, the petrol price increased by R1.21 to a record R19.54/litre.

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