South African retailer Pick N Pay has called the country's government to look into the issue of the restrictive pricing regime that mandates the price of fuel in South Africa, according to Petrol World, which quoted the retailer's chairman Raymond Ackerman.
Mr Ackerman, as quoted by Petrol World, said: Global oil prices have reached a record high and South African consumers are facing the brunt of these price hikes. The irony is that this isn’t altogether necessary. Petrol remains the only commodity to enjoy state-controlled pricing today, with all other mandated prices and boards of control already done away with, which is entirely appropriate.
Petrol World reported Mr Ackerman as explaining that price fixing is not good for the customer and South Africa’s deregulation drive should include the fuel retail industry too.