"Cutting excise duty will just blow a massive hole in the country's budget, leading to significant economic repercussions."
"Higher fuel prices will ricochet through the economy, pushing up the cost of almost everything, especially food."
"When food prices rise, it is because farmers, contractors, and hauliers have been compensated for higher fuel costs down the supply chain."
Cutting excise duty on fuel will create a substantial deficit in the national budget. Economists agree that rising fuel prices will have a cascading effect on the economy, particularly increasing food prices. This rise in food costs occurs because farmers, contractors, and hauliers adjust their prices to account for the increased fuel expenses throughout the supply chain. The overall economic impact will be felt broadly as higher fuel prices affect various sectors.
Read at Independent
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