The Energy Department says industry players have been given an opportunity to comment on the possibility of setting a maximum price for 93 octane petrol.
The department has sent out the proposal in a letter to those involved but has stressed that nothing has been set in stone.
The department said the move will create competition, which will lower the price. It said people are unnecessarily using 95-unleaded petrol.
If passed, the regulation would set a ceiling for the amount merchants could charge for 93 octane petrol.
The Automobile Association’s Layton Beard says if this became a reality it could help consumers.
“This is absolutely just a proposal from the Department of Energy and nothing has been set in stone or confirmed at all. Obviously, from a consumer point of view that would be very welcomed news.
“I think consumers across the board will be very happy if there was competition in terms of the fuel price. They can then shop around for fuel that is cheaper from one station to the next.”
The proposal will ease current pressure on the local refining industry to manufacture and import 95-ULP.
The department also believes the reduction of imports of 95-ULP will have a positive contribution to the trade balance.