South Africa faces record-high petrol prices in June, failing further intervention from the government. And time is running out.
Absa economists estimate that prices could rise by as much as 16% month-on-month should the R1.50 a litre reduction in the fuel levy not be extended. That would see prices close in on R25 per litre, based on data from the Central Energy Fund.
It said that Gungubele gave the false assurance that ‘…whether the government will intervene again and ensure that fuel prices remain reasonable as it’s a matter that affects the entire country is receiving special consideration…’. “The contradictory positions coming out of Cabinet confirm the ANC government’s enduring failure to respond effectively to rapidly rising prices of fuel.”
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