The Competition Commission has warned sternly against unscrupulous businesses wanting to exploit the surge in fuel prices.
Siyabulela Makunga, Spokesperson of the Commission, said price gouging is a chief concern.
This entails increasing prices way beyond fuel increases.
Makunga said this risk lies with unregulated fuel, diesel retail prices and get fuel as well as other oil related products.
“Businesses may not increase prices in anticipation of future fuel costs. They may only increase once they experience actual fuel cost increases.”
Businesses acting otherwise, are likely to face prosecution and found guilty of price gouging.
The Commission also encouraged business and residents to report any events and incidents they believe are price gouging.