THE government will intervene to soften South Africa’s record-high petrol price in April, says finance minister Enoch Godongwana.
Addressing parliament on Thursday, Godongwana said this would be done by temporarily reducing the general fuel levy (GFL) included in the Basic Fuel Price by R1.50/litre for the period between 16 April to 31 May 2022.
These changes will be reflected in the cost of diesel and fuel as follows:
- A reduction in the GFL in petrol from R3.85/litre to R2.35/litre
- A reduction in the GFL in diesel from R3.70/litre to R2.20/litre
Godongwana said that these changes would be formally introduced in the 2022 Rates and Monetary Amount and Amendment of Revenue Laws Bill which will be confirmed by parliament, with no changes made to other fuel levies such as the Road Accident Fund tax.
A broad number of interventions will also be considered once the two-month period lapses, including a review of
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