AA welcomes Ramaphosa's promise to review fuel price formula

JOHANNESBURG - The Automobile Association (AA) has welcomed an announcement by President Cyril Ramaphosa to review the fuel price formula.

During his address at the opening of Parliament, Ramaphosa made several promises to ease pressure on the pockets of consumers.

The president committed to expanding the basket of essential food items from VAT and reviewing administered prices, including the fuel price formula.

"The announcement by the president validates the AA’s calls for a fuel price review to mitigate the rising fuel cost, which continues to add pressure on already embattled consumers. As far back as 2019, the AA called for a review of the fuel pricing structure and an audit of all the components that comprise the fuel price," said AA spokesperson, Eleanor Mavimbela.