LETTER: Blame ANC policies for high fuel prices

The petrol price has been hiked by R1. The two main factors affecting it are the rand/dollar exchange rate and the oil price.

Whilst the oil price is mainly out of the ANC’s control, no progress has been made in developing and building oil refinery capacity, which could have offset importing millions of barrels of crude oil every month, bringing this cost down. This is squarely in the ANC’s court and they should be taking responsibility for the lack of planning or foresight.

ANC cronies have also looted SA’s Strategic Fuel Fund and sold the country’s reserve stocks at a bargain. South Africans will have to pay exorbitant fuel prices to refill those tanks. Our currency has been buffeted by the storms of the emerging markets contagion with Argentina and Turkey creating investor panic. However, a lot of investor uncertainty rests on the ANC’s land policy which is shrouded in controversy and the push to nationalise the Reserve Bank.

The independence of the Reserve Bank is paramount to a stable monetary policy. The biggest obstacle to land reform is the greedy and self-interested ANC, not the constitution.

South Africans are paying the price at the pumps for a failed ANC government. Think about that when you next fill up your tank.

Zurayda Abrahams

Uitenhage