The Department of Energy is trying by all means to decrease the fuel prices; this was announced on Tuesday by Energy Minister, Jeff Radebe, in Cape Town.
Radebe briefed the media after various concerns over the escalating fuel prices in the country, mentioning that the increase in the fuel prices will have a negative effect on the economy and business sector.
“The high oil prices can also be the factor of the geopolitical instability. Government’s focus was on interventions that are aimed at turning the situation around, there are technical teams from the Department of Energy and Treasury that have started to work on the review of the petrol prices, ”said Radebe.
Two months ago, the President of South Africa, Mr Cyril Ramaphosa, mentioned that both departments will see whether there can be any adjustments that can be made.
Written by: Asavela Fekema
Border-Kei Chamber of Business