DA submits fuel price deregulation bill to Parly

The latest steep announcement of a hike in the price of petrol by the Department of Mineral Resources and Energy has left South Africans feeling dejected at the ever-rising cost of living.

FILE: The DA said the fuel price controlled mandated by government had killed competition and failed to deliver efficient cost-reflective fuel prices. 123rf.com

JOHANNESBURG - In a bid to strip government off its power to prescribe the price of petroleum products, the Democratic Alliance (DA) has submitted a fuel price deregulation bill to Parliament to amend the Petroleum Products Act.

The latest steep announcement in the price of petrol by the Department of Mineral Resources and Energy has left South Africans feeling dejected at the ever-rising cost of living.

The price of petrol will increase by up to R2.57 per litre, diesel by up to R2.31 while illuminating paraffin will see a R1.66 per litre hike.

The DA said the fuel price controlled mandated by government had killed competition and failed to deliver efficient cost-reflective fuel prices.

The party's Kevin Mileham said: “The primary objective of this bill is to deregulate the fuel sector, so as to increase competition in fuel price setting at both the wholesale and retail level. It is envisaged that this will result in lower petrol prices for consumers. Our bill will curtail wide-ranging powers afforded to the minister to regulate the price of petroleum, both directly and indirectly.”