The US Department of Energy is still studying the feasibility of implementing a fuel price cap, and the results will be released by now, the spokesman told Fin2 on Wednesday.
The possibility of a strict price limit for 93 unleaded fuels Mid-October 2018 Energy Secretary Jeff Radebe
The price cap will buffer the driver from raising the price. But economists in 2018 raised concerns that if they were already implemented, they could be a serious drain on national finances.
New pricing formula
Energy spokesman Johannes Mokobane said on Wednesday that talks on the feasibility of the highest in the department were at an advanced stage.
"The department has entered into a one-to-one contract with all stakeholders who have submitted comments to the department on March 28, 2019. The report is currently being discussed internally and when the internal consultation is over, the press release a statement," says Mokobane Said.
Mokobane also said the government is still considering linking the road accident fund with a new road accident fund bill from fuel prices.
"The department started the process of reviewing the fuel price formula and the deadline for submitting comments on the base fuel price review was at the end of March 2019.
"The review will tell the department what will happen next," Mokobane said.
Mokobane said the freeze on gasoline prices seen in South Africa in September 2018 had once intervened to counter the pressure put on consumers by previous price increases.
The government is scheduled to announce a regular monthly fuel price hike next week. According to the AA, unexpectedly high international fuel prices have increased the possibility of another hike.