Reggie Sibiya, CEO at Fuel Retailers Association of SA

First Thing is First | The Department of Mineral Resources and Energy has started the formal process of deregulating the price of petrol in South Africa. On Friday, 22 July, Mineral Resources and Energy Minister Gwede Mantashe published a gazette requesting public comment on retailers setting their own price for 93-octane petrol. While the minister did not provide information regarding when this would be implemented or how the price cap would be calculated, the public was given 30 days to comment on it. this change would allow retailers of petrol to discount the fuel they sell how they see fit – this could be with price specials, volume discounts or even fuel bundles. Currently, Government sets the petrol price and it is illegal to sell fuel at any other price other than what has been stipulated by Government. Fuel retailers believe deregulating the fuel price will not bring prices down but will hurt the already marginal fuel retailers Fuel retailers are significant employers in the country, accounting for 83 000 jobs. Guest: Reggie Sibiya, CEO at Fuel Retailers Association of SA