South Africa

LISTEN | SA could extract its own oil to keep fuel prices low: economist

As the fuel price drops from Wednesday, Investec chief economist Annabel Bishop says SA could reassess oil and gasoline imports to lower prices.

Bulelani Nonyukela

Bulelani Nonyukela

Audio producer

The department of mineral resources and energy has confirmed that the price of 93-octane petrol will rise by 55c/l, while 95-octane goes up by 52c/l. Diesel is also hit hard. Stock photo.
The department of mineral resources and energy has confirmed that the price of 93-octane petrol will rise by 55c/l, while 95-octane goes up by 52c/l. Diesel is also hit hard. Stock photo. (jarun/123rf)

As the fuel price drops from Wednesday, Investec chief economist Annabel Bishop says SA could reassess oil and gasoline imports to lower prices.

Listen:

The Automobile Association (AA) called on the government to urgently review the fuel price and find a sustainable solution to mitigating rising fuel costs, failing which citizens would be at the mercy of fuel price hikes.

The AA had made predictions of fuel price drops before an official announcement on Monday.

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