Mantashe in talks with Finance Minister over fuel price composition - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Mineral Resources and Energy Minister Gwede Mantashe says he’s in talks with Finance Minister Enoch Godongwana on the composition of the fuel price in the country.

A vehicle is seen being refueled at a petrol station.

came into effect at midnight with 95 octane petrol now costing around R21,60 a litre. Both grades of petrol rose by R1,46 a litre following rising oil prices amid Russia’s invasion of Ukraine.Mantashe says international factors have an impact on fuel prices. “The price of oil if it goes over a hundred rand will see it. It doesn’t matter how you calculate it and because our exchange currency is in the open market, it fluctuates depending on that pressure that you cannot change unless you want to have a fixed rand-dollar exchange which is not working in the real world.”The minister says there is no universal access to energy, adding that African economies are beset with intermittent electricity supply and high tariffs.

Mantashe says these factors impact adversely on industrial production and on the ability of the poor to improve their well-being.More details in the video below:Meanwhile, the Automobile Association of South Africa says fuel price increases will have an immediate impact on the poor.“The impact certainly is dramatic and salaries and wages have not been keeping pace with the increase. This massive increase is going to put more strain on other things as well.

 

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Uyabona bamnyisile uMantashe, bamkhohlisa kwangathi banaye kanti bayamgawula. He must step aside until he clears his name. They ll cut him in virtual meetings 😅😅😅😅😅

I hope those talks are fruitful angabe eshwantshwatha lotata, sisenjeni ngoku...

Mr Mantashe what is your say on state capture report which was handed to Mr Ramaphosa yesterday 🤔

Yes we know they don't care cause they don't pay for petrol. Cause how do leaders start talking and yes only talking about the price of petrol. Offer some relief to the people working and paying for your lavish lifestyles. VoetsekANC Forfeit the levies cause potholes continues

We want to hear him about Bosasa

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