Reading Time: < 1 minute

Financial News

With tensions still simmering in the Middle East, the price of oil remains fairly high, but it has slowly been coming down the longer peace negotiations continue.

This has meant that the price of fuel is actually dropping a little.

The effect of this reduction will not be immediately felt by South Africans. You may wonder: why?

Well, last month, when prices shot up the government very kindly dropped a levy of R3 from the fuel price. This was a temporary measure to soften the blow of the sudden increase.

The plan was always to reintroduce the levy again in the future. This is happening in two parts. Half in June and half in July. So you can expect prices to go up by at least R1.50 in June.