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No Plans To Change Fuel Price Formula – Mantashe

Mineral Resources and Energy Minister Gwede Mantashe said that there were no plans to change the formula used to calculate fuel price adjustments after his department overstated the petrol price by six cents.

The Energy Department on Wednesday said that it made a mistake when it announced that a litre of petrol would increase by 81 cents a litre instead of 75 cents.

It explained that wage adjustments for service station workers were erroneously added.

“There’s no mischief. It’s a mistake, it’s recalculated and it’s corrected,” the minister said.

The Mineral Resources and Energy Department said that while it had corrected its petrol price miscalculation, it clarified that only petrol stations could issue refunds to those who overpaid.