Mantashe: Govt ‘committed’ to reducing fuel prices
Minister of Mineral and Petroleum Resources Gwede Mantashe said on Tuesday that the government is in the process of reviewing administered prices as it seeks to lower fuel prices.
He told the African Oil Week meeting in Cape Town that the government is aware of the link between fuel prices and the rising cost of living.
"To make life more affordable for all South Africans, we have already begun with discussions about reducing administered prices, including the price of fuel and electricity. Included in the discussions of fuel prices are discussions on, but not limited to, the general fuel and the Road Accident Fund levies."
In October, the price of petrol and diesel dropped for a fifth consecutive month, but the picture could change again depending on the international oil price and the strength of the rand.
Mantashe said the country requires a diverse energy mix to meet a growing energy demand.
"As we continue to pursue the security of energy supply and address energy poverty, a diversified energy mix remains a requisite for our nation to meet its growing energy demands.
"In contrast to the sustained crusade on oil and gas development, the reconfiguration of the Department of Mineral Resources and Energy into two departments allows us time and space to give a focused attention to the entire petroleum value."
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