The consequences of capping the petrol price
The government’s decision to increase the price of petrol by 5c instead of 25c cost the state R500m, now prices will remain unchanged rather than decreasing.
The government is also considering capping the price of 93 octane petrol, but the Fuel Retailers Association has warned that such interventions will hit profits and may lead to job losses in the sector.
Fuel Retailer Association CEO Reggie Sibiya joined Business Day TV to discuss the group’s concerns and possible solutions to the fuel price dilemma.
Fuel Retailer Association CEO Reggie Sibiya talks to Business Day TV about his group’s concerns and possible solutions to the fuel price dilemma