Government moves to extend fuel price relief to August
a cut in the general fuel levy until early August to help shield consumers from high domestic fuel prices linked to the Russia-Ukraine conflict.on 6 April. This special dispensation was set to end on 31 May. However, with oil prices continuing to soar, the reduction in the fuel levy will continue — but with caveats.
“The revenue foregone from the extension of the relief is estimated at R4.5-billion. Unlike the previous announcement, this proposal is expected to have an impact on the fiscal framework as it will not be fully funded through a sale of strategic oil stocks,” the statement said. “Government remains committed to the fiscal framework outlined in the budget 2022. The proposed temporary reduction in the fuel levy will be accommodated in the current fiscal framework in a manner that is consistent with the fiscal strategy outlined in the budget.”
Despite these measures, the weak rand and soaring international oil prices mean that from Wednesday, fuel prices will still spike higher — but by less than the nearly R4/
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