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Government Extends Temporary Reduction In General Fuel Levy

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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Government Extends Temporary Reduction In General Fuel Levy

 

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.

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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 The temporary relief will be withdrawn from August 3.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.

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