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Petrol price will hit record high of more than R7 a litre

By unknown | Jun 04, 2007 | COMMENTS [ 0 ]

Robert Laing

Robert Laing

This month's petrol price increase, which will take effect at midnight tomorrow, will bring the price of 93 octane commonly used in Gauteng to R7,11 a litre and coastal 95 octane to R7 a litre.

Petrol prices are set by the government in South Africa. The Minerals and Energy Department announces the new petrol price on the Friday preceding the month's first Wednesday when the new price will come into effect.

This month the retail price of all grades of petrol will go up by 23c a litre .

The setting of petrol prices by the state instead of a free market has often been cited as the cause of South Africa's high petrol prices by Pick 'n Pay founder Raymond Ackerman, among others.

South African National Consumer Union chairman Ina Wilken issued a statement urging the government to abolish the pricing system. She said state fuel price regulation was to the detriment of the consumer and to the benefit of the industry, including Sasol.

"There are just too many poor people who cannot afford these kinds of excessive prices anymore - basic commodities are getting totally out of reach for 80percent of consumers in South Africa. Don't keep bleeding the needy and the poor," Wilken said.


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