Energy Department Warns That Fuel Price Hikes Are Here To Stay

The Mineral Resources and Energy Department on Wednesday said consumers should brace themselves as high fuel prices are here to stay due to the ongoing global energy crisis.

At midnight on Wednesday, the price of petrol went up by between R2.33 and R2.43 a litre, while the price of diesel increased by between R1.07 and R1.10.

Government also announced the extension of the R1.50 fuel levy relief for another two months.

The department’s Tseliso Maqubele said this is the best government could do in the midst of a global economic war.

“The response of the EU, for example, and other countries to the war between Russia and Ukraine is affecting supplies of certain products in the world.”

However, Maqubele said deregulation is not the answer: “Even in markets like the UK and US, South Korea and Australia, government has had to step in and effectively reduce fuel taxes because the citizens of those countries can’t cope with the rising prices.”

Government on Tuesday said that it was not blind to the financial constraints facing consumers dealing with record fuel prices.

It said that it will continue to monitor the impact of the Russia/Ukraine conflict and zero-COVID-19 policies that continued to have an impact on energy and food prices.