Cape Town – The Democratic Alliance (DA) on Monday reportedly unveiled its Fuel Price Deregulation Bill to Parliament, following a new fuel price increase.
According to eNCA, the party hoped it could convince Parliament to adopt it into law.
The move came after the Department of Mineral Resources and Energy announced that the price of petrol for both 93 and 95 ULP and LRP will increase by R2.37 and R2.57 per litre on Wednesday, respectively.
According to IOL, the deregulation bill submitted to Parliament by DA was meant to amend the Petroleum Products Act.
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“The DA’s deregulation bill handed to Parliament for processing by Parliament’s legal services will seek to amend the Petroleum Products Act, which gives the government the power to prescribe the price of petroleum products,” the report said.
The DA said that the fuel price controlled by government had killed competition and failed to deliver efficient cost-reflective fuel prices, EWN reported.
“The primary objective of this bill is to deregulate the fuel sector, so as to increase competition in fuel price setting at both the wholesale and retail level. It is envisaged that this will result in lower petrol prices for consumers. Our bill will curtail wide-ranging powers afforded to the minister to regulate the price of petroleum, both directly and indirectly,” the report quoted DA’s mineral resources and energy spokesperson Kevin Mileham, MP, as saying.
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Compiled by Betha Madhomu
