With a weighting of almost 5% in South Africa’s inflation basket, the expected jump in pump costs is likely to push the gauge above the central bank’s target range and spur price hikes across the economy. The government reduced the levy on fuel by 40% in April and May, helping to keep a lid on prices.
Absa economists estimated in a research note that gasoline prices could jump by a staggering 16% month-on-month should the R1.50 rand a litre reduction in the fuel levy not be extended. Mondli Gungubele, a minister in the presidency, referred questions at a post-cabinet meeting on Thursday on whether the levy waiver will be extended to the National Treasury.
KaroloPeroni They must Scrap Fuel Levy
yaphela irelationship yam ngenxa ka rhulumente🙆🏾♂️
Disgusting
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