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%.
Hundreds of comments were posted in reaction to the announcement on the Golden Arrow Facebook page.
“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.