Ramaphosa speaks out on possible government intervention as fuel prices soar

President Cyril Ramaphosa says government is giving serious consideration to further relief from rising fuel prices, as organised labour and political leaders press for action on a proposed R10 billion intervention to ease pressure on households, workers and businesses.

Speaking to the media at the Bana Pele ECD Summit in Sandton on Tuesday, Ramaphosa said government was considering further measures to provide relief from rising fuel prices.

The issue of the fuel price is a problem globally. We’re not the only country that is affected by rising fuel prices and of course there are various responses by various entities and governments and businesses, and we are giving serious consideration to what needs to be done.

Ramaphosa said the government’s previous fuel subsidy had required R24 billion to be redirected from other programmes, highlighting the financial trade-offs involved in providing relief from rising fuel prices.