South African banks could help lower fuel prices by dropping or reducing transactional fees charged to station owners.<\/p>\n\n\n\n
This is according to Wits Business School professor Jannie Rossouw, who told eNCA<\/a> that\u00a0petrol station owners owe banks around 40 cents per litre every time customers pay for fuel using their credit cards.<\/p>\n\n\n\n Rossouw explained that one cost often overlooked when discussing fuel prices is the fee filling station owners must pay to the financial services industry for credit card transactions. <\/p>\n\n\n\n According to Rossouw, the fee currently amounts to around 40 cents per litre on every petrol or diesel transaction<\/strong>. <\/p>\n\n\n\n “If we can convince the financial services industry to lower this fee, it would help to lower the fuel price<\/strong> in South Africa,” he said. <\/p>\n\n\n\n While 40 cents a litre is a relatively small amount, other experts noted that the National Treasury could also intervene. <\/p>\n\n\n\n