Fuel Hikes – Business Feels the Pinch

Recent increases in petrol and diesel prices will compel businesses to adjust production costs and product pricing to cushion the negative effect of the price hike.

..Mihe Gaomab II, an economist with the Namibian Economic Society (NEC), says the recent fuel increases will definitely affect both the shipping and fishing industries as well as the transportation sector.

..High fuel prices are one input that can adversely affect fish processing in the fishing industry. Some fishing companies have expressed concern about how such hikes have hindered business, where some firms are struggling to protect and keep their customer bases.

AllAfrica