Moneyweb reports that SA’s general fuel levy will increase for the first time since 2022, Finance Minister Enoch Godongwana announced during his budget speech on Wednesday.
The levy will rise by 16 cents per litre for petrol and 15 cents per diesel, with effect from 4 June. “This is the only new tax proposal I am announcing for the 2025/26 fiscal year,” Godongwana indicated. Officials from the National Treasury clarified that the increase was inflation-linked and not intended to generate additional revenue. The adjustment follows the government’s decision to reverse a proposed Vat hike and is expected to raise between R3.5 billion and R4 billion in the current financial year. The increase coincides with a period of declining global oil prices, which have led to two consecutive fuel price cuts in recent months. These cuts gave some relief to consumers and helped ease inflationary pressures. Looking ahead, Treasury anticipates further fuel levy increases in 2026 and 2027, aligning with inflation trends.
- Read the original of the short report in the above regard by Liesl Peyper at Moneyweb
- Read too, Fuel levy goes up for the first in three years, at SowetanLive
- And also, Bad news for petrol prices in South Africa, at BusinessTech
Get other news reports at the SA Labour News home page