Deregulating fuel price could lead to massive job losses

The Department of Energy has told Parliament that deregulation of fuel prices would lead to 50‚000 job losses.

It also says the move would not necessarily result in lower prices.

On Wednesday Cyril Ramaphosa told MPs that there is a possibility to review the fuel levy in order to ease the burden on motorists and consumers.

READ: Outa calls on government to slash petrol price, reduce fuel levy by R1

Speaking to Africa Melane, Department of Energy Deputy Director-General Tseliso Maqubela says the move would mean that revenue gap would have to be filled somehow.

Because it has been factored into the budget, the national budget. Now if you temper with that then you must raise revenue elsewhere in order to balance the budget.

Tseliso Maqubela, Department of Energy Deputy Director-General

He says the focus is on looking at other pricing elements of petroleum products to see whether they can be reduced.

Listen further to the full interview:


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