This is according to president Cyril Ramaphosa who answered questions in parliament this afternoon. 

Business Tech reports that the president wants to implement these changes as ‘quickly and as soon as possible’. 

Ramaphosa said the Department of Mineral Resources and Energy, and National Treasury are reviewing the methodology for the Basic Fuel Price as well as other regulated components to identify changes that could reduce the cost of fuel. 

He said a committee of ministers has been established to look at the exact impact of the Russia-Ukraine crisis on South Africa, which will then help towards taking measures to cushion the blow of rising fuel prices. 

While Ramaphosa did not specify which measures would be introduced, he said a range of options are being considered, including suggestions from opposition parties, business and civil society.

Business Tech