Godongwana cushions petrol hikes by cutting fuel levy
Cost to fiscus of R6bn will be covered by the sale of SA’s strategic crude oil stockpile
31 March 2022 - 17:28
UPDATED 31 March 2022 - 22:55
The government has cut the fuel levy by almost 40% between next week and the end of May at a total cost to the fiscus of R6bn to cushion consumers and businesses from the effect of prices that have jumped to record highs in the wake of the Russian invasion of Ukraine.
Finance minister Enoch Godongwana told the National Assembly on Thursday that the levy would be reduced by R1.50 a litre from April 6 until the end of May. That will bring the charge for petrol down from R3.85c/l to R2.35c/l...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.