Business 3.9.2018 04:47 pm

Petrol price unexpectedly kept down due to government intervention

Energy Minister Jeff Radebe has stepped in to give consumers at least one month of relief at the pumps, with the retail margin going up by only 5c.

Energy Minister Jeff Radebe has announced an “urgent” fuel price intervention measure to ensure there will be no full petrol price increase in September.

Government’s intervention is a once-off, and the step was taken, said Radebe, “because South Africans have seen sustained increases for the past five months”.

The only increase that will affect the price for September is a retail margin increase of 4.9c per litre from 5 September.

“Despite the fact that these increases were caused mainly by international factors, the department has decided to intervene temporarily for this month,” said Radebe.

Without the intervention, prices could have gone up by another 25 cents per litre, according to a report in Business Tech.

The inland petrol price for September 2018 will be:

  • 95 Petrol – R16.08
  • 93 Petrol – R15.86
  • 0.05% Diesel (wholesale) – R14.41

 

08

today in print