DA MP Kevin Mileham said the proposed bill would reduce fuel by about R9/l , taking the fuel price to R17.50.
“By ending the unnecessary taxes on fuel and deregulating the fuel price, the DA estimates we can lower the price at the pumps by up to R9/l . Right now, R9/l off the fuel price would make an enormously positive impact on people and business.
“At Friday’s prices, we would drive the petrol price down to about R17.50/l .
“And once price equilibrium is established around this R9/l price reduction, with a deregulated fuel price, lower oil prices in due course will mean the price at the pumps will continue to fall.”
Mileham said the ANC had no choice but to support the bill as it was the only viable solution on the table to bring relief to the country amid rapidly rising prices and cost of living.
“The DA’s demand is that the fuel price must be slashed by ending the exorbitant ANC government taxes on fuel and stopping the government from centrally controlling the fuel price and keeping it artificially high.
“An artificially high fuel price simply means more taxes for the ANC government’s coffers. And money in the coffers funds corruption, cars, houses and luxury for ANC insiders.”
Publication of the notice for the bill invites the public to comment in support of lowering the fuel price by deregulation.
Here's how DA proposes to slash fuel price to R17.50/l
Image: Supplied
The DA says a significant drop in the fuel price would be on the cards if its Fuel Price Deregulation Bill was passed into law.
The party submitted the proposed bill to parliament last week and said it would be introduced on Friday.
The bill comes after the price of 93-octane petrol increased earlier this month by R2.37/l, 95-octane by R2.57/l, low sulphur 50 ppm diesel by R2.30/l and 500 ppm by R2.31/l. Illuminating paraffin increased by R2.21/l.
The new retail price for a litre of 93 petrol is R26.31 and 95 costs R26.74 inland, while the inland wholesale price of 500 ppm diesel is R25.40 and 50 ppm diesel costs R25.53.
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DA MP Kevin Mileham said the proposed bill would reduce fuel by about R9/l , taking the fuel price to R17.50.
“By ending the unnecessary taxes on fuel and deregulating the fuel price, the DA estimates we can lower the price at the pumps by up to R9/l . Right now, R9/l off the fuel price would make an enormously positive impact on people and business.
“At Friday’s prices, we would drive the petrol price down to about R17.50/l .
“And once price equilibrium is established around this R9/l price reduction, with a deregulated fuel price, lower oil prices in due course will mean the price at the pumps will continue to fall.”
Mileham said the ANC had no choice but to support the bill as it was the only viable solution on the table to bring relief to the country amid rapidly rising prices and cost of living.
“The DA’s demand is that the fuel price must be slashed by ending the exorbitant ANC government taxes on fuel and stopping the government from centrally controlling the fuel price and keeping it artificially high.
“An artificially high fuel price simply means more taxes for the ANC government’s coffers. And money in the coffers funds corruption, cars, houses and luxury for ANC insiders.”
Publication of the notice for the bill invites the public to comment in support of lowering the fuel price by deregulation.
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