Government looks to cap fuel price
Government's research into whether the price of petrol can be capped will be presented to parliament next year, Minister of Energy, Jeff Radebe, announced last week.
"We do not produce our own oil in South Africa.
"We import our oil and the Organisation of Petroleum Exporting Countries (Opec) determines prices, which is beyond our control. We are confident that before the end of January there will be a proposal on the table," Radebe told parliament.
"The proposal will determine the legal steps that must be taken.
"That is why we are working with the SA Petroleum Industry Association and they are applying their minds to this and other aspects of introducing this."
Radebe confirmed in October that government is considering a maximum fixed price for unleaded petrol as a solution to the consecutive increases the country faced in recent months.
The government is deeply concerned by the rising cost of petrol in South Africa, which is largely caused by the rand-dollar exchange rate and the price of crude oil, he said at the time.
The task team had until 18 October to gather the necessary information, followed by a look into what needs to be done to make the fuel price cap a legally viable decision.
Consumers were granted a "once-off" reprieve in September after government intervention capped the fuel price increase at 5c.