Global conflict and the soaring price of diesel will hit Cape Town bus commuters in the pocket when Golden Arrow hikes its fares by 8% on Monday.
The increase is one of the knock-on effects of the Russian invasion of Ukraine which is pushing up fuel prices globally.
“Considering the current global unrest and the accompanying economic effects it is clear that the SA economy is going to continue to find itself in a very difficult position. The diesel price has increased by 81% in the last 18 months and current projections predict that fuel prices will continue to soar. This has knock-on effects across our supply chain,” the company said on Wednesday.
“Where possible, Golden Arrow only implements one increase per year, however we now find ourselves in the very difficult position of having to find the balance between what is affordable for our passengers and what is needed to compensate for unrelenting cost increases across our operations. “It has therefore become necessary to implement an interim fares increase of 8% across the board as of March 14 2022. We must also caution that further increases may become necessary as the year progresses.”
Commuters were urged to purchase a Gold Card and load weekly or monthly products instead of paying cash. Weekly and monthly products are sold at a discount of up to 45%.“Consumers taking the fall for everything. We are not getting increases at work, electricity went up, water went up, petrol went up, interest rates went up ... Where are we consumers supposed to get the money from to pay for all these increases?,” asked Sharlot Shazz Mags.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Commuters stunned as Golden Arrow increase bus faresAccording to Gabs's general manager Derick Meyer, the company's interim operating contract with the provincial government make provision for fares adjustments in order to mitigate the effects of operational cost increases.
Read more »
Golden Arrow Bus Service warns that further fare hikes may be comingThe bus service on Wednesday announced an 8% across-the-board fare hike kicking in from next Monday.
Read more »
Golden Arrow to implement interim 8% fare hikeCape Town bus operator Golden Arrow bus service is set to implement an interim fare increase of 8%.
Read more »
CT commuters share their thoughts on the recent Golden Arrow price hikeThe recent Golden Arrow price hike is burning a hole in commuters' pockets. The bus service recently announced that it would be increasing its fares by 8% starting next week and Capetonians are not happy, calling the hike ridiculous.
Read more »
'This will leave a huge hole in our pockets': Cape Town bus commuters slam Golden Arrow ticket hike | News24Cape Town bus commuters are fuming over Golden Arrow's decision to increase bus fares by 8% as of next week. | Lisaleesolomon1
Read more »
Golden Arrow Bus Service warns that further fare hikes may be comingThe bus service on Wednesday announced an 8% across-the-board fare hike kicking in from next Monday.
Read more »