The Minister of Petroleum will submit to the Prime Minister by end-September 2017 a proposed automatic fuel price indexation mechanism, which will adjust fuel prices (diesel, gasoline, kerosene, fuel oil) to changes in the exchange rate, global oil prices, and the share of imported fuel products in the consumption basket to help maintain the targeted cost recovery ratios. MEFP ¶18.
Introduced at R1. Objective: Strengthen energy subsidy reform.