3 big changes planned for South Africa’s petrol price

A process to review the Regulatory Accounting System .

Similarly, while Treasury has previously proposed a fuel price cap, it warned that it will require ‘significant investigations’ before officially being introduced. The introduction of a petrol price cap was suggested for 93 unleaded petrol, which would retailers to sell fuel below the regulated prices.Maake said that any other proposals – including the opposition Democratic Alliance’s bill to deregulate the petrol price – would have to be tabled in parliament before they could move forward.

A major factor in the increase of international petroleum prices remains the ongoing conflict in Ukraine which is contributing to supply and demand pressures. As long as this conflict is unresolved, the increases in fuel prices – both in South Africa and other countries – remain likely. The AA said that while pressure is building on the government to formulate a solution to the rising fuel costs, short-term relief, while welcome, is not sustainable.

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