The Democratic Alliance says that government must introduce legislation to protect consumers against ever-increasing fuel prices.
Motorists are likely facing a hefty hike in petrol and diesel prices in June as the government’s General Fuel Levy intervention is expected to come to an end at the end of the month.
“In this instance, the revenue foregone by the reduction in the levies will be recouped through a sale of strategic crude oil reserves, which are held by the Strategic Fuel Fund, which is a subsidiary of the Central Energy Fund. The sale would be required to raise around R6 billion.” “With finance minister Enoch Gondongwana’s temporary tax relief of R1.50 set to expire at the end of the month, South Africans might have to pay an increase of more than R3 per litre for fuel and as much as R25 per litre of fuel from the beginning of June,” said the DA’s Kevin Mileham.
The opposition party urged the finance minister to continue with this tax relief, and to fast track and prioritise the review of the fuel pricing model. The minister of Mineral Resources and Energy proposed the following package of measures to be introduced after the expiry of the temporary measures from Wednesday 1 June 2022:
The introduction of a price cap on 93 octane petrol, following from the previous DMRE proposal and consultation. This means that retailers can sell below the regulated prices.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ford aims to take South African mega-factory off Eskom’s gridFord’s says its Silverton Assembly Plant in Pretoria now sources 35% of its electricity supply from solar power. The plant produces the Ford Ranger pickup for domestic sales and exports to over 100 global markets.
Read more »
Mining Indaba: South African lawmakers get schooled by the mastersFor a country once rated as a global mining titan, SouthAfrica has slipped a long way: from 60th on the Fraser Index in 2020 to 75th out of 84 mining jurisdictions in 2022. Moneyweb SouthAfrica Mining
Read more »
Disney+ vs Netflix — South African libraries and features comparedDisney+ is coming to South Africa on 18 May. This is how its library and features stack up to video streaming leader Netflix.
Read more »
How VC technology assists South African brands enhance customer experienceVideo conferencing technology is proving to be an effective solution to create positive and long-lasting customer experiences using digital channels.
Read more »
Business Maverick: INTERVIEW: Gold Fields’ South African solar project powers ahead, dodges supply-chain, mafia bulletsGold Fields’ solar plant project at its South Deep mine in western Gauteng is powering ahead in the face of attempted shakedowns by the procurement mafia. It also got ahead of the supply-chain crunch which will slow the global transition to green energy.
Read more »