PRETORIA: The South African government is in talks to cushion the impact of record petrol price hikes in South Africa over the coming months.

Finance minister Enoch Godongwana has told parliament that this intervention would likely be temporary, with the National Treasury and Department of Mineral Resources and Energy (DMRE) also considering long-term options to help alleviate the rapidly rising prices.

“Work is being done in this regard,” the minister said. “What is making the matter more urgent is the impact of the Russia-Ukraine conflict which is moving the price of oil faster than we have thought.

“The work we are doing is intended to address the immediate challenge we are facing, and a decision will be announced fairly soon.”

Godongwana did not disclose what exact measures would be introduced, only saying that discussions were ongoing.

“There is an intention on the part of the government to make immediate steps in particular for April and May,” he added. “(This will) mitigate the impact of the price increases, even as a temporary measure, for those two months.”

The latest data from the Central Energy Fund (CEF) shows South Africa is on track for a petrol price hike of between R1.85 and R1.93 per litre in April. The diesel price is expected to increase by as much as R3 per litre.

Darul Ihsan Media Desk