Question NW30 to the Deputy President
24 February 2022 - NW30
Sithole, Mr KP to ask the Deputy President
Whether, as the co-ordinator of anti-poverty initiatives, he has commissioned any short-term interventions to mitigate the effects of the increase in petrol prices in light of the persisting high levels of unemployment, poverty and deepening inequality; if not, why not; if so, what are the relevant details?
Reply:
The Deputy President has not commissioned any short term interventions to mitigate the effects of the increase in petrol prices. The Basic Fuel Price consists of factors outside of South Africa’s control, hence international fuel prices fluctuate from day to day. South Africa is a net importer of Petroleum Products, and has no control over crude oil prices, exchange rates, and any factors informed by geo-politics.
The calculation of fuel prices is done by the Central Energy Fund on behalf of the Department of Mineral Resources and Energy. In this regard, the Minister of Mineral Resources and Energy announces the adjustments of fuel prices based on current local and international factors, and in terms of the amended regulations of the Petroleum Products Act, 1977 (Act 120 of 1977).