Government Extends Temporary Reduction In General Fuel Levy.. The continuing Russia/Ukraine conflict, numerous supply chain bottlenecks and a tightening of global monetary policy have led to further unfavourable changes in the two key drivers of the regulated petrol price — the exchange rate and the global oil price.
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These events have led to even larger increases in fuel prices compared to a few months ago when the temporary fuel levy relief was introduced. As such the National Treasury announced on Tuesday that this relief would be extended for another two months.
According to a joint media statement published on the National Treasury’s website, this will take the form of a continuation of the relief of R1.50 per litre for the first month, from June 1 to July 6, and then a downward adjustment to the relief for the second month to 75c per litre from July 7 to August 2. The temporary relief will be withdrawn from August 3.
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Without this extension, SA’s already cash-strapped motorists would have been hit by a petrol price hike of around R4, pushing the price of 95 octane unleaded petrol over the R25 a litre mark. At the time of writing the final June petrol price is yet to be confirmed.
