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As we head towards the National Budget Speech on 23 February, all eyes are on government to find a way to lower petrol prices, and perhaps even more importantly, to delineate how they will review how the latest petrol price was calculated.
South Africa hasn’t achieved its policy objective of deregulating the fuel price because vested interests have opposed this, and the government doesn’t have the political will to implement the policy.
The petrol price, which climbed 50% in 2021, is set to start the year lower as all grades of petrol and diesel across the board are reduced.
Energy sector expert Rod Crompton shares his insights into what influences the price – which is adjusted monthly – and explain how it’s calculated.
Energy sector expert Rod Crompton shares his insights in this Q&A.