Proposal to cap petrol price to be finalised in January
The proposal to cap the price of 93 octane petrol would be finalised by the end of January, energy minister Jeff Radebe said on Wednesday. “Before the end of January 2019 there will be a proposal on the table,” Radebe said during a question-and-answer session in parliament on Wednesday. The government is looking to introduce measures to boost competition in setting the price of 93 octane petrol that could result in lower prices and shift higher numbers of consumers into using it rather than higher-octane 95. The proposal has been circulated to the fuel wholesale and retail industries‚ which have been asked to comment on it. “We are very serious about changing and putting a cap on 93 octane,” said Radebe. He said this would go a long way in alleviating pressure on consumers. Meanwhile, after months of fuel price increases, the Automobile Association (AA) says the petrol price is expected to drop by about 16c/l in November while prices of diesel and illuminating paraffin will probably...
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