"We believe there is more that could be done to reignite and accelerate economic growth
The ANC has called on government to increase petrol reserves and to consider freezing or decreasing the fuel levy.
ANC national spokesperson Pule Mabe said the petrol was at its highest level ever, “putting a squeeze on all aspects of life of fellow South Africans”.
The department of energy announced on Tuesday that the inland price for a litre of 95 unleaded petrol will cost R16.02. The coastal price will be R15.43.
“The rate at which these cost increases are happening is unbearable and we can neither turn a blind eye nor wish them away. We need to take strong action to arrest this situation,” Mabe said. Mabe said the rand’s depreciation is fuelled largely by US trade wars and crude oil prices.
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The party has also called on the Organisation of Petroleum Exporting Countries (OPEC) to help lower fuel prices by increasing oil production.
“We believe there is more that could be done to reignite and accelerate economic growth, and to soften or lessen the effect petrol price increases have on our people and on the economy.” — Fin 24