NATIONAL NEWS - Energy Minister Jeff Radebe has confirmed the government is considering a maximum fixed price for unleaded petrol as a solution to the consecutive increases the country faced in recent months.
Fin24 reports that a task team comprised of officials from the department of energy and the national treasury has been set up to find a solution that will help cushion the financial blow of the ever-increasing petrol price.
“Government is deeply concerned by the rising cost of petrol in South Africa which is largely caused by the rand-dollar exchange rate, and the price of crude [oil],” said Radebe at a post-cabinet briefing on Thursday.
The task team has until October 18 to gather the necessary information. This will be followed by a look into what needs to be done to make the fuel price cap a legally viable decision.
Consumers were granted a “once off” reprieve back in September after government intervention capped the fuel price increase at 5c.