Fuel retailers have expressed frustration over the Department of Energy delaying the release of the new fuel price adjustments. The price changes at midnight Tuesday. However, the department made the announcement hours before the price can be effected.
With the South African energy sector undergoing significant change, particularly with the introduction of the Liquid Petroleum Sector Codes currently under way, PetroConnect directors Mark Harper and Sbonelo Mbatha have called on the fuel industry to “see transformation as an opportunity and not a threat”.
The Fuel Retailers Association‚ representing more than 2‚500 fuel retailers‚ has hit back at the government’s proposal to cap the price of 93 octane petrol‚ claiming it will cut into wafer-thin profit margins and accelerate job losses in the sector.
The Fuel Retailers' Association complains that the current pricing model unfairly favours big oil companies. The retailers say that big fuel companies claw back a portion of the profit margin that is meant to go to entrepreneurial compensation. Picture: Boxer Ngwenya.