Calls for sustainable measures to make fuel prices affordable


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Yellow Petrol Pump
[Picture: Radio 786]

Dismay has been expressed over government’s tepid medium to long-term proposals to protect South Africans from the escalating fuel prices.

Labour federation Cosatu says lukewarm proposals will not address the largest millstones around the economy. It has called for a fuel price regime that is affordable and a reduced dependence on fuel. Among its recommendations is the cutting of taxes on fuel, restoring of the rail service, the retabling of the Road Accident Fund and Road Accident Benefits Scheme Bills in Parliament as well as massive investment in public transport.

It comes as the Finance Minister Enoch Godongwana announced that they would explore a broader package of relief that could be introduced after the expiry of the two month R1.50 cent a litre cut in the general fuel levy.

The minister indicates that they will look at potentially reducing the Basic Fuel Price of 3c/l, terminate the Demand Side Management Levy of 10c/l on 95 unleaded petrol sold inland, and a review of the regulatory accounting system. This includes the retail, and wholesale margins.

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May 18, 2022
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