'SAns will benefit from a strengthening rand in the long run'

An economist believes that consumers will benefit from a strengthening rand in the long run, despite all the price hikes taking place. Francois Stofberg says in the meantime, consumers will have to bear the burden of price hikes.

The price of petrol will increase by 12 cents per litre from Wednesday while diesel will decrease by one cent. Paraffin will decrease by nine cents a litre and liquefied petroleum gas by five cents per kilogram.

Stofberg, however believes the rand will strengthen against the US dollar towards the end of the year.