Fuel levy extension welcomed by South Africans

Economists have welcomed National Treasury's plan to extend the reduction of the general fuel levy, which forms part of the fuel price. To the relief of motorists, Finance Minister, Enoch Godongwana, has announced that from next Wednesday, petrol will continue to cost R3 less in terms of the general fuel levy.

Those with diesel vehicles will get a slightly bigger reduction, exempt from the total fuel levy of R3.93.

Next month, diesel prices are expected to increase more than petrol prices.
While Treasury's move will give households and businesses some much-needed assistance, one independent economist warns that the cumulative effect of recent higher fuel prices is likely to have untold consequences for the economy, especially if the Middle East conflict continues.

For more news, visit sabcnews.com and #SABCNews on all Social Media platforms.