Cape Town – Minister of Finance Enoch Godongwana has raised concern over the increase in fuel costs, calling for changes to the way the fuel price is calculated, reports said on Friday.
Godongwana said this after the cost of petrol rose to a record this month.
“We have not had any discussion with the Minister of Mineral Resources and Energy as to the fuel price. However, I can assure the honourable member that I am as concerned with the rise in fuel prices as any other South African to the extent that we may have to play a role. We will do whatever we can to support reform of the fuel price,” IOL quoted Godongwana as saying.
Godongwana was responding to a question raised by IFP chief whip Narend Singh in the National Assembly, as political parties called for the government to intervene.
According to Times Live, regulated fuel prices, which include a levy used to finance a fund to compensate those involved in road accidents and other taxes, have jumped 40% this year.
Energy Minister Gwede Mantashe told lawmakers that separating the fuel levy from prices would be “helpful”.
“At this point in time a big part of the price increases is the levy.
“The way of countering price increases is an urgent matter for review and that is on the table,” Bloomberg News quoted Mantashe as saying.
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