Today's Labour News

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petrolpumpBusinessLive writes that fuel prices have reached record-high increases over the past three years, despite the government not increasing the General Fuel Levy or Road Accident Fund (RAF) levy.

Commenting on unaudited data from the Central Energy Fund (CEF), the Automobile Association (AA) pointed out that unleaded 93 petrol inland in May 2022 cost R21.51/l but increased to R23.01 in May 2023. According to current CEF data, this price will again increase by 37c/l in May pushing the price close to R25.15/l. The outlook for unleaded 95 inland is not much better, with the CEF data showing an increase of 38c/l. Yet, diesel is set to decrease by 35c/l, while illuminating paraffin is also set to come down by 28c/l. “The decrease to diesel prices is especially welcome as it will not result in higher input costs across various sectors, and this won’t be a driving factor in consumer prices increasing,” the AA noted. The AA commented the expected petrol increases reaffirmed its belief that a review of the fuel price structure was necessary to establish if any components within the current pricing model could be revised by the Department of Mineral Resources and Energy to mitigate against rising costs.

  • Read the full original of the report in the above regard at BusinessLive

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