- The Democratic Alliance plans to introduce a new bill that will slash petrol prices by as much as R9 a litre
- This would bring the price of petrol down to R17.50 which will bring much-needed relief to South Africans struggling with the cost of living
- When fuel prices eventually stabilise and the cost of oil drops then more relief is expected at the pumps
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JOHANNESBURG - The Democratic Alliance has said that if the Fuel Price Deregulation Bill made it through Parliament it would reduce the price of fuel.
Petrol prices have recently hit new highs with over R2 increases for diesel and petrol across the board.
Right now petrol costs R26.31 a litre and if the DA gets its way the price will be slashed by R9/l bringing it down to R17.50/l.
Once fuel prices stabilise then as the cost of oil falls so will the price at the pumps giving South Africans a needed reprieve as the cost of living continues to soar according to TimesLIVE.
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Fuel price drop expected in August
The data coming in shows that fuel prices are expected to drop in August by almost R1 per litre. However, the reintroduction of the general fuel levy will reduce the fuel drop to just 15 cents a litre according to The Citizen.
Another factor is the weaker Rand/US dollar exchange rate which has further affected the price of fuel.
How South Africa's cost of living compares to neighbouring countries
Earlier, Briefly News the cost of living has increased dramatically in the last few months and there is no indication that it could be decreasing any time soon. Briefly News takes a look at how expensive things really are.
From fuel hikes to high utility bills: How South Africa's cost of living compares to neighbouring countries
Fuel prices have hiked to the point that South Africans are paying over R24 per litre for petrol. Essential foods such as sunflower oil are selling for over R100 for two litres at many supermarkets.
South Africans now find themselves in precarious positions where they now have to stretch out their monthly income to make ends meet. First National Bank (FNB) recently noted that the middle class in SA is struggling to stay afloat.
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Source: Briefly News