CONSUMERS will be hard hit this week by the petrol and electricity tariff increases.

Electricity tariffs increased 16% yesterday.

Last month, the National Energy Regulator of South Africa decided to reduce Eskom's average price increase to 16% for the period until March 31 next year. Eskom wanted to increase the tariffs by 25.7%.

The petrol price hike of 71c per litre for 95 inland and 66c a litre in coastal areas will be the biggest increase since July 2008.

On Wednesday, petrol will be R11.94 a litre inland and R11.59 at the coast.