ANC calls for urgent measures to cushion blow of steep fuel hikes

The African National Congress (ANC) has urged the government to take immediate action to alleviate the burden of soaring fuel prices for South Africans. Motorists are preparing for significant hikes in fuel costs that will come into effect at midnight on Tuesday. Petrol prices are projected to rise by between R3.12 and R3.33 per litre, depending on the grade, while diesel will increase by between R2.84 and R3.24 per litre. Illuminating paraffin is set to jump by R4.77 cents per litre.

Minister Fasiha Hassan from the National Treasury suggested that the government could reduce fuel levies and contributions to the Road Accident Fund as a short-term measure to provide relief. In the longer term, she emphasized the need for South Africa to increase its local fuel refining capacity to mitigate the impact of rising global prices.

Maqubela explained that the situation was exacerbated by Russia's suspension of diesel exports and China's renewed restrictions on diesel exports. Russia, which had been the world's second-largest exporter of diesel, has effectively banned the export of diesel since the beginning of October. This has led to a shortage of diesel in the global market, causing fuel prices to soar.