Editorial staff
2 minute read
4 Apr 2022
7:00 am

Dropping the fuel price by R1.50 is a small mercy, but we’ll take it

Editorial staff

The R1.50 we save per litre may look insignificant but it all adds up, and a R1.50 saving is still better than nothing.

Photo: iStock

Finance Minister Enoch Godongwana’s announcement of a reduction by R1.50 per litre of the general fuel levy, albeit temporary, is good news, though we obviously wish it could be better. From Wednesday until 31 May, the price of fuel will go down, an unusual occurrence in recent months where we’ve witnessed the price going only one direction: up. Godongwana said the decrease would reduce the levy for petrol from R3.85 per litre to R2.35 per litre. The levy on diesel will be reduced from R3.70 per litre to R2.20 per litre. In 2021-22, taxes accounted for on average 34% of...