Cyril Ramaphosa, the president of the South Africa Photo Supplied  Reuters/Siphiwe Sibeko

Ramaphosa warns SA not to “raise hopes” of a instant fix for fuel prices and VAT

Fuel prices are expected to rise again in August.


Cyril Ramaphosa, the president of the South Africa Photo Supplied  Reuters/Siphiwe Sibeko

Constant rising fuel prices and the increase to VAT has left South Africans reeling at the cost of living. Recently, President Cyril Ramaphosa promised that he had his best ministers working on a solution. Now, it seems we mustn’t get our hopes up.

Cyril Ramaphosa vs the cost of living

At the start of July, Ramaphosa put together a team of ministers and handed them a two-week deadline to find measures to ease the cost burden on the poor.

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Now, speaking to journalists during his engagements in Saudi Arabia, the President doesn’t want people to get their hopes up for a quick fuel price fix.

“We know this matter is urgent and I wanted it to be attended to as quickly as possible… without raising anybody’s hope I am saying there will be an interim report that they will give me,” Ramaphosa said.

He did touch on the various option that the ministers would be considering.

“Economic cluster ministers will look at all options including the basket of products our people buy most, to see the extent with which we can extend non-vatable products. We obviously cannot tamper much in the end where it impacts on the budget and tax legislation that is out there.”

While Ramaphosa has received direct backlash from the public over the skyrocketing fuel prices, the latest IPSOS poll has revealed that the ANC currently enjoys 60% support across the country. The DA is currently down to just 13% while the EFF has slightly increased to 7%.

With Saudi Arabia providing SA with 47% of its oil, Ramaphosa urged the country to increase production to help bring down global prices. 12 months ago, a barrel of Brent Crude cost $47. Currently, it costs $75.

“We are not playing around. We are serious. This is about the growth of our economy and we are extremely serious about being businesslike, being focused and ensuring that we drive economic growth,” Ramaphosa was quoted as saying by News24.

Petrol prices are expected to rise again in August.