Government considering fuel levy cut extension
JOHANNESBURG – Fuel prices will most likely rise again in May, but Finance Minister Enoch Godongwana might come to the rescue.
According to the latest data from the Central Energy Fund, petrol prices could increase by over R2, while diesel prices could see another steep increase of R7.
Government is considering extending the R3 fuel levy cut.
Godongwana said the relief could be stretched a little longer, possibly up to three months in total.
READ | Higher fuel prices threaten inflation outlook
But there’s a catch.
The Finance Minister said government can only afford to offer support for a limited time.
The cut is costing the country around R6-billion in lost revenue every month.
South Africa relies heavily on imported fuel and with the war showing no signs of easing the oil price remains elevated.
