BULK IMPORTS
Rampant fuel price hikes out of state’s hands, says minister
There is nothing much the government can do to stem the rampant fuel increases since it imports the bulk of its requirements, Economic Development Minister Ebrahim Patel has said. Motorists and commuters will be hit by yet another fuel price hike on Wednesday. The Department of Energy announced that 93 and 95 grades of petrol would increase by 26c per litre and 23c per litre, respectively, pushing the price to more than R16 per litre in inland provinces for the first time. The hikes will have ripple effects on the economy. The price of a litre of petrol in SA has more than doubled in 10 years, while the fuel levy increased from about R1.30 in 2008 to the current R5.30.
Despite the steep increases in fuel prices in recent months, Patel said the cost of fuel in SA remained in line with the global average, and was among the lowest when compared to non-oil-producing countries. Responding to a written question from the EFF in Parliament on Tuesday, Patel said there was little the g...
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