The formal process to deregulate the price of petrol has started.

Business Insider reports Energy minister Gwede Mantashe has gazetted his “intention to introduce a price cap” for 93 octane.

That will allow retailers to discount petrol sales, with price specials, bundles, or volume discounts.

There is a 30-day period for public input, before the process can move further forward.

At present, the exact price of petrol is set by the government and it is illegal to sell petrol at any other price.

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