The Economic Freedom Fighters (EFF) has strongly criticised the government’s latest fuel price increases, which came into effect on Wednesday, February 5.
These adjustments, announced by Minister of Mineral Resources and Petroleum Gwede Mantashe, reflect both global and local factors, including rising crude oil prices, the depreciating rand, and the implementation of new international sanctions against Russia and Iran, which could further constrain supply and lead to higher freight rates.
However, the EFF sees this as yet another failure of the government to stabilise the economy and address the burden on South Africans, particularly the working class.
According to Mantashe, the petrol and diesel price hikes are primarily driven by an increase in crude oil prices, which rose from $72.78 (R1,353.77) to $77.41 (R1,439.89) per barrel during the period under review.
The rise is attributed to several factors, including increased demand from the Northern Hemisphere due to cold weather and expectations of heightened demand from China following economic stimulation policies.
The EFF, however, views these external factors as part of a broader pattern of economic mismanagement, arguing that the government has failed to implement state-led interventions to reduce the cost of living and create jobs.
EFF national spokesperson Sinawo Tambo expressed frustration with the government’s reliance on market-driven solutions, saying, “We were told that the coalition of neoliberal forces forming the so-called Government of National Unity (GNU) would stabilise the economy and reduce the cost of living. However, this petrol price hike is yet another reminder that the GNU has no practical plan to stabilise the economy.”
The fuel price hikes for February 2025 include increases of 82 cents per litre for both grades of petrol, R1.05 per litre for diesel (0.05% sulphur), and R0.97 per litre for illuminating paraffin. The increase in LPG gas prices is also notable, with a R0.42 per kilogram rise.
In line with the price hike, the EFF warns that this will exacerbate the financial strain on South Africans, who are already grappling with high food prices, soaring education costs, and exploitative lending practices by banks.
The party is also concerned about the ongoing reliance on the private sector to address economic challenges.
Tambo criticised the government’s approach, stating, “They remain fixated on waiting for the private sector, an entity that prioritises profit and the exploitation of the working class rather than implementing decisive state-led interventions.”
The EFF is calling for urgent policy changes and will seek to engage with key government committees to address the rising fuel costs and the broader economic crisis.
”The working class must resist this economic onslaught. The EFF remains resolute in the fight for a just, radical and realistic economic agenda that priorities people’s needs over corporate greed,” said Tambo.
Politics
