The Energy Department has announced that the price of all grades of petrol will remain the same on Wednesday while the price of diesel will go up
There is a parallel process to the adjustment of petrol prices on a monthly basis and that process was announced by the Department of Energy where they said that it had proposed capping the price of 93 octane petrol.
It says that setting a maximum price instead of regulating the exact price at the pump will encourage retailers to compete in pricing as is the case with diesel.
Speaking to Xolani Gwala CEO at Fuel Retailers Asociation of SA Reggie Sibiya says this is a concerning matter.
Basically, the way it has been approached, because as you have heard from the minister's comments that they are hoping that retailers will be competing amongst themselves to help motorists with relief.— Reggie Sibiya, CEO at fuel retailers association of SA
He questions how the retailer is going to afford that.
Listen below to the full interview: