Golden Arrow to hike bus fares as fuel costs escalate | Fin24
  • Credit Rating

    Moody's has (again) said that weak state-owned entities are a risk to SA's sovereign credit rating.

  • SARS Inquiry

    Judge Nugent has recommended the president sack suspended SARS boss Tom Moyane.

  • Nene Rand Rollercoaster

    Simon Brown says savvy investors worked out how the rand would react to uncertainty at Treasury.


Golden Arrow to hike bus fares as fuel costs escalate

Jun 06 2018 12:55
Allison Jeftha

Golden Arrow Bus Services has announced plans to increase fares in the coming months as rising petrol prices cause strain.

In a statement the Cape Town bus company announced it was no longer able to carry the burden of rising fuel costs. In line with the conditions of its interim contract with the Western Cape Provincial Department of Transport, it would as a last resort be increasing fares in "coming months". 

It did not say when or by how much the fares would increase. 

The price of both grades of petrol rose to record highs on Wednesday. Motorists are now paying R15.20 and R15.79 for a litre of 95 octane unleaded petrol on the coast and inland respectively.

"[Golden Arrow] continues to implement strategies to address rising costs through effective cash management, stringent cost controls and a process of quality management," the company said. "This fare adjustment is therefore an unfortunate but unavoidable last resort."  

It said it would release detailed information about when the fare increase would come into effect closer to the time, so that passengers would be fully aware of how and when they would be affected.

"Golden Arrow is acutely aware of the effect that increased fares has on its passengers, and would like to assure them once again that this increase is unavoidable given the prevailing  economic climate."

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest. encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

golden arrow  |  industrial  |  companies


Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The appointment of Tito Mboweni will:

Previous results · Suggest a vote