Finance minister Enoch Godongwana has said that massive changes are underway for South Africa’s fuel price regime.
The South African government is working to end the general fuel levy and deregulate the petrol and diesel price.with the Sunday Times, Enoch Godongwana said that for complete deregulation to happen, National Treasury must find a way to recover R90 billion the fiscus would lose when the fuel levy is scrapped.Godongwana told the newspaper that government is considering options like adding taxes to car licence renewal fees to help pay for the Road Accident Fund.
If current forecasts hold, petrol will be between 26 and 34 cents more expensive even after the general fuel levy decrease on 16 April. From 1 June, the government will look at several other measures to bring down fuel prices, including a price cap on 93-octane petrol and ending guidance on diesel prices.
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