SA's finance minister has called for changes to the way the fuel price is calculated, after the cost of petrol rose to a record this month.
Finance minister has called for changes to the way the fuel price is calculated, after the cost of petrol rose to a record this monthSA's finance minister has called for changes to the way the fuel price is calculated. Picture: BLOOMBERG
Regulated fuel prices, which include a levy used to finance a fund to compensate those involved in road accidents and other taxes, have jumped 40% this year. The price increased 3.8% last week to R20.29 rand a litre in Gauteng, SA’s commercial hub. Data due out on December 15 is expected to show headline inflation accelerated to 5.5% in November from 5% in October, driven by fuel and food costs. The price-growth measure has been above the 4.5% midpoint of the central bank’s target range at which it prefers to anchor expectations since May.
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