Enoch Godongwana

Stories

South Africa revives fuel levy cuts as record pump prices bite

Announced the R10bn relief in October; the November cut took effect on November 4 and shrinks from December 2

The November 4 adjustment delivered almost no petrol relief: 95-octane fell 1 cent a litre, while 0.05% diesel fell R1.10 and 0.005% diesel R1.20. The temporary levy cut of R1.50 on petrol and R3 on diesel was built into those prices, and the slate levy rose to 135.84 cents a litre.

Updated 2 days ago

Notable Quotes

Because we have rebuilt fiscal buffers, government is in a stronger position to respond, including by providing temporary fuel levy relief again.

from South Africa revives fuel levy cuts as record pump prices bite · Updated 2 days ago

These measures will provide R10 billion in support, at a fiscal cost of R10 billion in foregone revenue

from South Africa revives fuel levy cuts as record pump prices bite · Updated 2 days ago

Despite global volatility, South Africa is weathering the storm much better than its peers because we have been able to consistently take hard decisions over the last five years that have built our fiscal buffers and fortified our resilience.

from South Africa revives fuel levy cuts as record pump prices bite · Updated 2 days ago

We've got to find a way of phasing it out. But in doing so, we will be losing about R80 billion.

from South Africa revives fuel levy cuts as record pump prices bite · Updated 2 days ago

It's R2 per litre. Just removing the Road Accident Fund, you'll realise a major decrease in the price of fuel.

from South Africa revives fuel levy cuts as record pump prices bite · Updated 2 days ago