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Minister of Mineral and Petroleum Resources, Gwede speaks at the 5th annual Southern Africa Oil and Gas Conference, in Cape Town.
Mineral and Petroleum Resources Minister Gwede Mantashe says the government is weighing all options available to ease the burden of rising fuel prices on consumers.
Petrol prices have increased by R3 per litre, while both grades of diesel increased by between R7.37 and R7.51 per litre.
The Middle East crisis, which has affected oil prices globally, has influenced the price increases.
Mantashe says they do not want to panic just yet.
“We said, what can we do to cushion the end consumer. We came to a conclusion that we should not rush and dive into the problem. This is a crisis, there is a war in the Middle East, the worst thing that can happen to us is for us to panic. Panic kills.”
“Now, if we’re relaxed, you will have noticed that even the reduction of the fuel levy is for a month. Actually, we’re looking over a period of three months, but we give ourselves a month to give ourselves space to think and analyse and look into all other options and those options may be fitted in the second and the third month,” adds Mantashe.
VIDEO | Matashe says government is working to buffer SA from fuel increases:
