Motorists will receive further assistance from Government from June, to ease the financial pressure brought on by the drastic increase in oil and fuel prices.
Finance Minister, Enoch Godongwana yesterday announced the first of these measures – the reduction of the general fuel levy by R1.50 per liter of fuel, which comes into effect next Wednesday.
The reduction will be from 6 April to 31 May 2022.
He says Treasury will also, in 2 months time, introduce a price cap on 93 octane petrol, which would allow retailers to sell fuel below the regulated price.
Minister of Finance Enoch Godongwana's full speech, and the joint media statement on the short-term relief measures to address fuel price increases, are now available on the National Treasury website: https://t.co/5wDMcj9opv #FuelPriceRelief #FuelPrices pic.twitter.com/QviVJJSvSG
— National Treasury (@TreasuryRSA) March 31, 2022