Cape Town – Finance Minister Enoch Godongwana has announced that the general fuel levy will be cut by R1.50 per litre from Wednesday next week to May 31 2022, reports said.
Godongwana made the announcement on Thursday.
According to Fin24, this will reduce the levy for petrol from R3.85 per litre to R2.35 per litre. The levy on diesel will be reduced from R3.70 per litre to R2.20 per litre.
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Last week, the finance minister said in Parliament that National Treasury and other government departments were in “sensitive discussions” about interventions to ease the pressure of fuel prices on South Africans.
Godongwana said the intention of the temporary reduction of the general fuel levy was to support a phasing in the fuel price increases that were expected in the short term, which will go some way in assisting South Africans to adjust to the new reality, EWN reported.
South Africa has been hit by a record high petrol and diesel price after Russia’s invasion of Ukraine caused global oil prices to skyrocket.
Motorists already paid R1.46/litre more for petrol this month, with the risk of a similar increase in April, BusinessTech reported.
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