Carol Paton Editor at Large

A joint team of department of energy and Treasury officials that was asked by President Cyril Ramaphosa to look into measures to tackle the high fuel price will not be considering changes to the tax regime, such as reducing the fuel tax or Road Accident Fund levy, MPs were told on Tuesday. Minister of energy Jeff Radebe and departmental officials briefed parliament’s energy committee on the composition of the fuel price and whether it could be mitigated in some way. The fuel price is at a record high of R16 a litre. The fuel levy accounts for R3.37 of this per litre and contributes R62.8bn annually to the national revenue fund. The Road Accident Fund Levy accounts for R1.93 of the fuel price. Tseliso Maqubela, the department’s head of petroleum regulation, said the team had decided it would look for "quick wins" and any adjustment to the fuel levy could only take place in the next financial year. "We have not gone to the level of discussing the fuel levy because we believe parliamen...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now