A Wits professor explains how banks could potentially reduce petrol prices by up to 40c/litre in South Africa.
South African banks could help lower fuel prices by dropping or reducing transactional fees charged to station owners.that petrol station owners owe banks around 40 cents per litre every time customers pay for fuel using their credit cards.
However, those who can afford an electric car now unfairly bypass this levy but can still be in or cause an accident on the roads – suggesting the levy be removed from the petrol price and the funds be collected elsewhere. “The problem with the fuel price in South Africa is a weak rand and a high international oil price,” said the professor.
Therefore, the most practical way to strengthen the rand against major international currencies is by stimulating a growing economy through favourable government policies that attract foreign investment.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Africa Emerges as America's Largest Trading Partner in AfricaSouth Africa has become America’s largest trading partner in Africa, with over $20-billion of two-way trade of goods. More than 600 American businesses now operate in South Africa. Africa's population is expected to grow significantly by 2050, presenting opportunities for investment. US Secretary of the Treasury Janet Yellen visited South Africa to strengthen ties between the two countries and continents.
Read more »
Africa: Ghana, South Africa Formalise Multi-Sectoral Engagements At Bi-National CommissionThe President of the Republic, Nana Addo Dankwa Akufo-Addo, has on behalf of the government and people of Ghana formalized engagements on education, health and mining under the Bi-National Commission.
Read more »
‘Ready Steady Cook South Africa’: Moshe Ndiki hosts new showSouth African media personality Moshe Ndiki will be hosting cooking show 'Ready Steady Cook South Africa'.
Read more »
South Africa: Young Voices Missing in Online Chatter as South Africans Prepare to VoteSouth Africa's upcoming elections sparked extensive online chatter, but a crucial question remains: where are the young voters? The discussions on social media, with over 450,000 mentions between February 12th and 29th, reveal a mix of frustrations and hopes, reveals the Center for Analytics and Behavioral Change (CABC).
Read more »
Former South African Striker Marks Maponyane Highlights Striker Crisis in South AfricaMarks 'Go Man Go' Maponyane, a former Bafana Bafana, Kaizer Chiefs, and Orlando Pirates striker, expresses concern over the lack of goals from strikers in the Premier Soccer League. He calls on coaches to address the issue and discusses the decline of South African strikers in recent years.
Read more »
Top banking CEO sends a warning about state banks in South AfricaQuestions are being raised about the logic of launching state banks at a time the economy is not growing and the government cannot afford them – or even run them.
Read more »