The opposition Democratic Alliance has submitted a Fuel Price Deregulation Bill which aims to ultimately lead to lower petrol prices. Details:
, the opposition Democratic Alliance has submitted a Fuel Price Deregulation Bill which aims to deregulate the fuel sector in South Africa.
He further explains: “The bill does this primarily through the removal of Section 2 of the Petroleum Products Act. The bill also amends section 2 to allow for businesses to implement creative methods of trading which may result in reduced petroleum prices.” “The regulated fuel price system is rigged against the South African consumer. The average fuel price is composed of at least seven levies that combine to make our fuel one of the most expensive in the region when compared to countries such as Botswana, which happens to get most of its fuel supplies from South Africa.
The new fuel hike that sets in on Wednesday is reportedly due to the increase of international petroleum prices as a result of the ongoing conflict in the Ukraine. Further increases are imminent as long as this conflict is unresolved.
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