Deregulating the fuel price will not bring prices down but will hurt the already marginal fuel retailers, the industry has warned. | Fin24
Deregulating the fuel price will not bring prices down but will hurt the already marginal fuel retailers, the industry has warned.
The comments come as government faces intense pressure to cushion the blow of high fuel costs, which are taking a toll on consumers. Already the state has temporarily cut the general fuel levy to offer some respite. "So it's not only us, it is all over, and we have to now start to realise that there are many things beyond our control," he said. For example, a credit card transaction cost of 42 cents per litre is absorbed by fuel retailers and is not part of the margin provided for through the fuel price structure.
Illegal trading of fuel, where wholesalers are selling directly to the public without the required licences, is also a matter which Sibiya said is"getting out of hand" and stealing sales volumes from retail service stations.
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