No petrol price increase

Business News

Just News |

A sigh of relief for motorists!. No increases will be made to the general fuel levy on petrol and diesel for 2022/23. This will provide tax relief of R3.5 billion to South Africans. Finance Minister Enoch Godongwana announced this good news during his budget speech on Wednesday.

In 2021, the inland petrol price breached R20 per litre. The higher prices have put pressure on the cost of transport, food and other goods and services.

Minister Godongwana added that there will also be no increase in the Road Accident Fund levy. “Minister Mantashe and I have agreed that a review of all aspects of the fuel price is needed.”

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