AA Blogs and News

Today, after the December fuel price adjustment had already come into force at retailers across South Africa, and two full days after the official announcement of the fuel price by Minister Gwede Mantashe, the Department of Mineral Resources and Energy (DMRE) announced it had made a mistake with its fuel price calculations.

Fuel prices will be through the roof in December, with the price of oil playing almost no part. This is according to the Automobile Association (AA), which was commenting on price increases announced by the Department of Mineral Resources and Energy (DMRE) yesterday (SUBS::29 Nov), and which come into effect at midnight tonight (SUBS::30 Nov). The Association says the increases again point to the need for an urgent investigation and recalculation of the current fuel pricing model and its existing elements.

November fuel price hikes announced by the Minister of Energy last night (Sunday, 1 November) will be disastrous for fuel users and consumers across the board. This is according to the Automobile Association (AA), which says a perfect storm of demand imbalances, refinery costs, natural gas price hikes and Rand weakness would see the petrol price close in on R20 a litre in the runup to Christmas.

The Automobile Association (AA) says an urgent inquiry by Parliament into the operational and financial affairs of the Road Traffic Management Corporation (RTMC) is necessary and overdue. The Association says the Parliamentary Portfolio Committee on Transport should also summon the Chairperson of the RTMC, Mr Zola Majavu to explain why he made false statements about the funding of the Corporation in the RTMC’s 2020 annual report.

Current data is predicting fuel price hikes of catastrophic proportions at the end of October for November. This is according to the Automobile Association (AA) which was commenting on recent exchange rate and commodities data.