Petrol price in memes: Relief expected at the pumps

The Automobile Association (AA) predicts we may have some relief at the fuel pumps this month, by a whole R2.

But it’s not just at the pumps, at this rate we might even be able to afford higher standards in our relationships.

The average Rand/US dollar exchange is playing a smaller role, but is still contributing to the expected decreases.

Petrol prices need a sustainable solution

“Although we are expecting fuel to be cheaper in September, we remain concerned about the overall high prices which impact on all consumers.

“The price hikes in June and July will continue to impact the economy and on the financial situation of all South Africans,” said AA.

A sustainable solution to mitigating rising fuel costs is still necessary, and until that solution is found, citizens will be at the mercy of fuel price hikes,” notes the AA.

The AA is again calling on the government to urgently review the fuel price, saying it stands by its earlier position that scrapping the General Fuel Levy (GFL) is not the solution.

“We note the calls by those who say this is a way of reducing the fuel price, but in our view, this will not solve the problem; it will simply force the government to find alternative ways to collect the revenue generated by this tax.

Instead, the structure and composition of the fuel price must be considered, along with a deeper interrogation of how the government currently allocates its funds,” concludes the AA.

Compiled by Narissa Subramoney

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