Govt moves to cap price of 93 octane petrol
Energy Minister Gwede Mantashe has gazetted a notice calling for public comment on a proposed price cap on 93 octane petrol.
The notice was published in the national gazette on Friday.
Government has been under pressure to deregulate fuel prices following constant fuel price hikes that have an impact on consumers.
Earlier this month government hiked fuel prices which saw a litre of petrol costing R26 for the first time.
DA Shadow Energy Minister Kevin Mileham welcomed the announcement but says the proposed intervention does not go far enough.
"Government has maintained unnecessary control over the fuel price for too long, thereby hindering competition in the fuel sector which would result in lower prices at the pump for consumers, and more innovative selling methods by fuel retailers.
"The DA believes that a full deregulation model which goes beyond a price ceiling is most desirable for consumers and producers alike. Full deregulation is common practice in developed economies, and it is time South Africa joined their ranks."
Mileham says they will be tabling a Bill in Parliament which goes beyond a price ceiling by allowing for full deregulation of the market.
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