Levy hike offsets fuel price drop
JOHANNESBURG - Motorists can expect a slight reprieve at the pumps in June.
But the increased fuel levy will offset this.
According to the latest data from the Central Energy Fund, petrol could decrease by a few cents.
WATCH: Budget 3.0 | AA warns consumers will feel fuel levy pain
However, diesel motorists could see a more than 30 cents per litre decrease.
The June fuel price adjustment will come into effect on Wednesday, 4 June.
But this will give little relief to cash-strapped consumers after the Finance Minister announced a fuel levy hike.
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The Citizen
20 hours ago
- The Citizen
Surprise that all MPC members were in favour of repo rate cut
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ALSO READ: Reserve Bank cuts repo rate thanks to lower inflation, stronger rand Unanimous decision to cut repo rate Jee-A van der Linde, senior economist at Oxford Economics Africa, points out that five members of the Monetary Policy Committee voted for a 25 basis points cut, while one member preferred a larger cut of 50. 'Although our subjective odds shifted in favour of a 25 basis points cut, our forecast for this meeting indicated an unchanged policy rate, with voting patterns remaining tight due to the exceptionally uncertain external environment.' He says the latest repo rate cut suggests that the Sarb is comfortable with South Africa's inflation outlook, including potential upside risks to prices. 'Looking ahead, we forecast headline inflation will consistently average above 3% from the second half of 2025, trending gradually higher over the near term. 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The Citizen
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IOL News
a day ago
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A step backwards for the country's poor
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