Government mulls capping price of petrol
Parliament - Government was considering capping the price of 93 unleaded petrol, Energy Minister Jeff Radebe said on Thursday.
Radebe, who joined his communications counterpart, Nomvula Mokonyane, during the post-cabinet media briefing, said they were consulting the industry on the proposal.
"Last week, as the department, we started a consultation process with the petroleum industry with specific reference of asking their expert advice of what the impact would be if we were to set a maximum price for 93 unleaded [petrol]," he said.
"We have given the industry until the 18th of October to respond to us after which we would take an appropriate decision."
Radebe's comments come as South Africans continue protesting the high cost of fuel and its impact on the poor and working class.
Earlier this month fuel prices rose sharply with petrol going up by as much as R1 a litre.
The 95 octane petrol now costs a record high of R17.08 in Gauteng and R16.49 at the coast, while the wholesale diesel price rose by R1.24 to R15.64 in Gauteng and R15.16 at the coast.
The cost of 93 octane petrol is R16.85 inland.