The government could reduce the price of petrol to an astonishing R10 a litre if it could implement a tax on major oil companies in SA
Visvin Reddy of the People Against Petrol and Paraffin Price Increase believed that if Mzansi did this and produced oil locally, it could contribute to lower oil pricesVisvin Reddy of the People Against Petrol and Paraffin Price Increase thinks SA can slash petrol to R10. Images: Education Images/Universal Images Group and Per-Anders Pettersson via Getty Images, it’s possible that the fuel price could be slashed to R10 a litre.
South Africa buys oil from OPEC nations Iran, Saudi Arabia and the United Arab Emirates. He added that OPEC nations tend to manipulate oil prices and believe that if Mzansi bought oil from countries likeClick “See First” under the “Following” tab to see Briefly News on your News Feed!should increase production at Sasol, which enjoys high profits from using the country’s natural resources. He believes that if they do this, it would cause old refineries that have shut down to reopen.
In considering this possibility, Reddy pointed out that the government is allegedly afraid it might lose a large chunk of the R95 billion revenue from the fuel levy. Reddy suggested that if the government imposes a special tax on the big oil companies andSA government miss anti-doping law deadline, Springboks might play against France without national flag
This was after another fuel hike was confirmed early this month. Petrol and diesel prices went up by R1, which meant that petrol now costs R24 per litre. They noted that living has become expensive.You are already subscribed to our newsletter!Check your email and confirm your subscriptionCheck your inbox to be the first to know the hottest news