Govt considering price ceiling for unleaded petrol

konfab

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#1
Government is considering fixing a maximum price for unleaded fuel to cushion the country from escalating prices, Energy Minister Jeff Radebe said on Thursday.

"Government is deeply concerned by the rising cost of petrol in South Africa which is largely caused by the rand dollar exchange rate, and the price of crude [oil]," said Radebe at a post-Cabinet briefing.

A task team, including officials from the Department of Energy and the National Treasury, is examining what to do to cushion the blow of another increase, as the international price of crude oil has kept increasing.

In September the government took a once-off decision to not increase the price of fuel. At the time the DoE said SA had witnessed "sustained increases in fuel prices for the past few months, which placed a strain on consumers". Radebe said he estimated September's subsidy - which amounted to 20c a litre - would cost around R400m. The subsidy was funded by the Central Energy Fund.


The government has now decided to examine whether it should set a maximum price for unleaded fuel. It has set October 18 as a deadline for the gathering of information on which it will base its decision.

The team looking into the possibility of a price ceiling is also expected to consider what legal steps would be necessary to make this possible.
https://www.fin24.com/Economy/govt-considering-price-ceiling-for-unleaded-petrol-20181011
 

konfab

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#2
How to create a fuel shortage 101.

The cause of the problem is the weak rand and oil price, the solution: fix the price.


We should really be thanking the ANC. They will make the economic argument for solar powered cars.
 

Lupus

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#3
How to create a fuel shortage 101.

The cause of the problem is the weak rand and oil price, the solution: fix the price.


We should really be thanking the ANC. They will make the economic argument for solar powered cars.
Real problem: ANC taking 55% of the price of petrol for various taxes and funds... Solution don't touch that, let's do something completely stupid.
 

justplain

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#5
Not you specifically...their massive voter base who they rely on being uneducated and easily swayed by propaganda

:laugh::X3:

REALLY NOW... do they believe the own crap they spew... THEY ARE PROFITEERING FROM IT, they are the ones CAUSING it... yet they are "concerned" LOL... Friggen hell they must think we're total idiots.
 

thestaggy

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#7
"Government is deeply concerned by the rising cost of petrol in South Africa which is largely caused by the rand dollar exchange rate, and the price of crude [oil]," said Radebe at a post-Cabinet briefing.
Nope. Its largely caused by you lot inflating the price of petrol with taxes and levies and by going out of your way to ruin our currency and economy, magnifying the effects on any change in the price of oil.

Does the ANC genuinely believe it hasn't played a role in the difficulties we face? Do they believe the nonsense they peddle?
 

Lupus

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#8
Nope. Its largely caused by you lot inflating the price of petrol with taxes and levies and by going out of your way to ruin our currency and economy, magnifying the effects on any change in the price of oil.

Does the ANC genuinely believe it hasn't played a role in the difficulties we face? Do they believe the nonsense they peddle?
Oh they know, what they are hoping for is their voters don't.
 

gamer16

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#9
Why are we still saying UNleaded, its not as if you can find leaded petrol somewhere, unless you have a Delorean
 

ArtyLoop

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#12
Why are we still saying UNleaded, its not as if you can find leaded petrol somewhere, unless you have a Delorean
Shows either they are so out of touch with the real world or think we are so stupid to not know the difference
 

rietrot

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#13
They already set the price. How is this different? The current price is the government price.
 

R13...

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#14
Well, if they stopped increasing the levies and taxes on fuel it'd go along toward achieving that. Even better lower those things and the price could actually drop.
 

rietrot

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#15
The only real veritables is the oil price and currency fluctuations.

I bet one of those idiots think the can call up Saudi and say SA needs to buy oil at the set government rate.
 

R13...

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#17
They already set the price. How is this different? The current price is the government price.
They set the price but they're obliged to increase it with increasing input costs, which is different than setting a ceiling. It is mainly their fault the price is so high anyway. They could stop screwing up the currency and it'd cushion the price.
 

konfab

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#18
They already set the price. How is this different? The current price is the government price.
It means that South Africa will only buy petrol at a certain price. Which means that, unless we use our massive military or large booming economy to force the suppliers to meet it, there will be a shortage.
 

NarrowBandFtw

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#19
It means that South Africa will only buy petrol at a certain price. Which means that, unless we use our massive military or large booming economy to force the suppliers to meet it, there will be a shortage.
No problem, we can also use our massive oil reserves we built up ... oh, wait ...
 
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