Masondo: We cannot make hasty decisions on fuel price
Deputy Minister of Finance David Masondo has told Parliament that government cannot afford to make any hasty decisions on the pricing of fuel.
Masondo was speaking in Parliament on Tuesday during a debate on the impact of the Ukraine-Russia war on the local economy.
He told MPs that his department is working with the Department of Mineral Resources to review the current approach on fuel pricing.
It comes amid the calls for government to drop the fuel levy to protect consumers against the spike in the price of petrol and diesel.
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"This madam speaker makes the work that we have embarked on with the Department of Mineral Resources and Energy to review the approach to fuel pricing an urgent exercise.
"We are working tirelessly to complete the work as soon as possible. We cannot make any hasty decisions as any changes we make on fuel pricing will have a lasting impact and the broader economy."
The price of brent Crude oil has reached an historic highs of $140 a barrel on the back of Russia’s invasion of neighbouring Ukraine.
This has prompted organisations like Agri-SA to call for a review of the fuel levy by the government which currently stands at over R2/l of petrol.
