Government taxes make up 27% of the petrol price charged at the pump and just over 28% of the price of diesel, contributing significantly to the overall fuel price in South Africa.
The latest announcement was a surprise. There were no fuel levy increases in the last two budgets, and many economists predicted it would change this year. Taxes will contribute over R6 of the total price of fuel per litre that South Africans will pay at the pump. The general fuel levy is the fourth largest revenue item in the government’s budget and has become an increasingly important source of revenue in the last decade. It contributes around R90 billion in tax revenue.
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