Fuel price increase hits home

Are the high petrol price increases getting you down? You’re not alone. CEO of Fuel Retailers Association Reggie Sibiya spoke with eNCA's Mfundo Mabalane. Courtesy of #DStv403

JOHANNESBURG - Are the high petrol price increases getting you down? You’re not alone.

Petrol station owners are also feeling the pinch.

READ: Government miscalculates petrol price hike

Retailers are facing fuel supply and retail challenges as they try and balance onerous legislative and industry standards, with declining volumes and profits.

The AA says all the elements that comprise the fuel price must be fully interrogated and has called for an audit into the retail price of fuel.

CEO of Fuel Retailers Association Reggie Sibiya said: "What people don't understand is, as I have mentioned the KPMG study in 2016 on the retail margin, that study said the retail margin is under recovery. A review does not necessarily mean that the cost will go down."

Source
eNCA

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