National Treasury says that the fuel prices could be reduced by nearly 86 cents a litre by revising retailer margins which have been factored into the determination of the price.
Treasury was briefing Parliament’s committee on mineral resources and energy on Tuesday on research it commissioned last year, to look at the fuel price. Officials also said that a 2018 review of the basic fuel price by the Department of Mineral Resources and Energy (DMRE) could result in a three cents once-off reduction in the price. This could be implemented immediately.
