Latest news with #GFL
USA Today
3 days ago
- Sport
- USA Today
Kevin Lee signs with PFL, steps into lightweight semifinal vs. Gadzhi Rabadanov
Kevin Lee signs with PFL, steps into lightweight semifinal vs. Gadzhi Rabadanov Kevin Lee has been searching for a home to continue his MMA career. Now he's found it with the PFL and is immediately shaking things up. The promotion announced Wednesday that former interim UFC title challenger Lee (20-8) has signed on to join the roster and will step into the lightweight tournament semifinals against 2024 PFL champion Gadzhi Rabadanov on June 20 at INTRUST Bank Arena in Wichita, Kan. The fight will headline the 2025 PFL World Tournament 6: Semifinals event. Originally, Rabadanov was slated to fight Jay-Jay Wilson, who was forced to withdraw due to injury. "The Motown Phenom" has competed just once per year from 2020-2024, with his most recent bout a first-round submission of Thiago Oliveira at Lights Out Championship 17 in September. Lee, 32, was connected to the upstart GFL organization and one of the outspoken supporters of the proposed MMA promotion before it imploded weeks out from the inaugural event, leaving all signed athletes in limbo. Now Lee, who holds wins over the likes of Diego Sanchez, Edson Barboza, Michael Chiesa and more, will make his way to PFL and immediately position himself to potentially win a tournament title.
The Citizen
5 days ago
- Automotive
- The Citizen
Opposition mounts against fuel levy hike
Effective from June 4, the General Fuel Levy (GFL) will be increased by 16 cents per litre for petrol and 15 centre per litre for diesel. The AA has warned that despite it not being increased in the past three years, this will be a bitter pill to swallow for cash strapped South Africans. Looking for a new or used vehicle? Find it here with CARmag! Finance Minister Enoch Godongwana announced the hike as the sole new tax measure in the 2025/26 fiscal year, attributing it to inflationary pressures. He emphasised that the adjustment is necessary to address fiscal challenges, especially after the government scrapped a proposed VAT increase earlier this year. Since the South African government's decision to increase the GFL, widespread concern has arisen among motorists, industry stakeholders, and opposition parties. The Automobile Association (AA) has expressed strong opposition to the levy increase, warning of its immediate and far-reaching consequences. 'This levy adjustment comes at a time when South Africans are already contending with high food prices, elevated interest rates, increased electricity tariffs, and persistently high unemployment,' the AA stated. Related: All-New Honda Amaze Lands in SA – Pricing and Spec The AA further highlighted that with the new adjustments, the combined cost of the GFL and the Road Accident Fund (RAF) Levy will exceed R6 per litre in some areas, accounting for more than 30% of the total pump price before adding the base fuel cost, distribution margins, and retail markups. At the highest level of opposition, political parties have also voiced concerns. Members of Parliament from various parties argued that the fuel levy increase is a regressive tax that disproportionately affects lower-income households. They accused the National Treasury of replacing the scrapped VAT hike with the fuel levy increase without considering alternative revenue proposals, such as wealth taxes. In response to the backlash, the National Treasury clarified that the fuel levy increase is in line with expected inflation of around 4% and is not intended to replace the VAT increase. Chris Axelson, the acting head of tax and financial sector policy at the Treasury, stated that the fuel levy adjustment is expected to generate approximately R4b, significantly less than the R75b anticipated from the proposed VAT hike. Related: Toyota Celebrates 40 Years at Le Mans With Throwback Liveries Despite the levy increase, motorists may experience a slight reprieve in June fuel prices due to favourable market conditions. Data from the Central Energy Fund indicates an over-recovery of 19 cents per litre for petrol and 48 cents per litre for diesel, which could offset the impact of the levy hike. Related: Fuel Price Reprieve All But Confirmed for June 2025 The AA continues to call for a comprehensive and transparent review of South Africa's fuel pricing model, including a forensic audit of revenue generated from the GFL and RAF Levy, full transparency on the fuel price-setting formula, and exploration of alternative funding mechanisms that reduce reliance on fuel-based taxation. Click here and browse thousands of new and used vehicles here with CARmag! The post SA Minister of Finance Plans General Fuel Levy Increase – AA Warns Against It appeared first on CAR Magazine.
The Citizen
5 days ago
- Business
- The Citizen
Fuel levy pain: Brace for possibility of petrol price hike in June
The first fuel levy increase in three years will come into effect in June. Here's how it will affect petrol and diesel prices. The projected decrease in petrol and diesel prices for June has been slimmed down by Treasury's hike in the fuel price levy. Picture: iStock South African motorists will feel the impact of the fuel levy increase at the pumps when the official price changes for petrol and diesel kicks in on Wednesday, 4 June. Budget 3.0's inflation-based general fuel levy (GFL) hike will see petrol prices increase by 16 cents to R4.01, while diesel tax will rise by 15 cents to R3.85. Based on current over-recovery trends, consumers should consider themselves lucky if petrol sees a marginal decrease of 3 cents per litre in June. There is even the possibility that the fuel levy increase could result in a small hike in petrol prices if the rand weakens or global oil prices rise further this week. June fuel price: Expected changes in petrol, diesel and paraffin According to the latest data released by the Central Energy Fund (CEF), over-recoveries of 19 cents per litre are on the cards for petrol prices and 48 cents per litre for diesel. Petrol 93: Decrease of 20 cents per litre. Decrease of 20 cents per litre. Petrol 95: Decrease of 19 cents per litre. Decrease of 19 cents per litre. Diesel 0.05% (wholesale): Decrease of 48 cents per litre, Decrease of 48 cents per litre, Diesel 0.005% (wholesale): Decrease of 49 cents per litre. Decrease of 49 cents per litre. Illuminating paraffin: Decrease of 52 cents per litre. When factoring in the 15 cents and 16 cents per litre of the GFL increase for diesel and petrol, the respective decreases are slimmed down to 33 cents and 3 cents. Petrol 93: Decrease of 4 cents per litre. Decrease of 4 cents per litre. Petrol 95: Decrease of 3 cents per litre. Decrease of 3 cents per litre. Diesel 0.05% (wholesale): Decrease of 33 cents per litre. Decrease of 33 cents per litre. Diesel 0.005% (wholesale): Decrease of 34 cents per litre. Fuel price explainer The fuel levy increase raises the total tax on petrol to R6.37, factoring in the R2.18 Road Accident Fund (RAF) levy, which remains unchanged, as well as the 14 cent carbon tax penalty and four cent customs and excise duties. Current petrol and diesel prices Following May's fuel price decreases, a litre of 93 unleaded petrol costs R21.29 per litre, while 95 unleaded costs R21.40. The wholesale price of 0.05% diesel stands at R18.93 per litre and 0.005% at R18.91. Why is Treasury hiking the fuel levy? Finance Minister Enoch Godongwa announced in his third Budget Speech last week that the only new tax proposal would be an inflation-based increase in the GFL for the 2025/26 fiscal year. Any increase in international fuel prices or a weakening in the rand-dollar exchange rate could cause the 5c to melt away over the next week. The revised 2025 budget is the minister's third official attempt to balance the country's finances since February's contested speech. ALSO READ: VAT reversal overshadowed by fuel levy hike R61.9 billion shortfall While the previously announced 1% Value Added Tax (VAT) hike falls away following pressure from within the ranks of the government of national unity (GNU), Treasury now has an additional R61.9 billion shortfall to fund over the next three years. Frank Blackmore, lead economist at KPMG South Africa, said the proposed fuel tax hike represents an inflationary increase of 4% in the fuel price, which is larger than the proposed VAT increases. READ NOW: Budget 3.0: Fuel levy replaced VAT hike but is it the better option?
The Citizen
6 days ago
- Automotive
- The Citizen
AA calls for transparency about fuel price calculations, criticises fuel levy increase
The Automobile Association (AA) has raised concerns following Finance Minister Enoch Godongwana's announcement of an increase to the General Fuel Levy (GFL). The association has, among other things, called for transparency about how fuel prices are calculated in South Africa. The increase of 16 cents per litre for petrol and 15 cents per litre for diesel – will take effect from June is the first increase to the GFL in three years. According to the minister, it is the only new tax proposal for the 2025/26 financial year, citing inflationary pressures as the main reason. The AA cautioned the repeated turning to fuel levies to cover budget shortfalls is not sustainable, particularly when there is limited transparency about how the money is spent. The association renewed its call for a full review of South Africa's fuel pricing system. It is calling for: • A forensic audit of revenue from the GFL and Road Accident Fund (RAF) levy • Transparency on how the Department of Mineral Resources and Energy (DMRE) calculates fuel prices • Public engagement with civil society, labour and the transport sector • Consideration of alternative funding models that reduce the reliance on fuel levies The AA warned the increase would have far-reaching consequences for consumers and the broader economy. 'Fuel is a key input cost across all sectors. When fuel prices go up, transport and operational costs rise, which increases the price of goods and services,' the AA said in a statement. The entity added the levy increase comes when South Africans already face high food prices, steep electricity tariffs, elevated interest rates and persistent unemployment. Lower-income households, which spend the larger portion of their income on transport, are expected to be the hardest hit. With the new increase, the combined GFL and RAF levy will exceed R6 per litre in some regions. This will account for more than 30% of the pump price, even before adding the base fuel cost, distribution fees and retail markup. The AA said while the increase appears insignificant, it contributes to a growing financial burden on motorists, transportation-dependent businesses and industries. It believes South Africa must start a broader conversation on how to fund roads, public transport and infrastructure without placing the burden solely on drivers. 'The AA is ready to work with government and stakeholders to find fair, transparent and sustainable solutions that benefit both the economy and the people who drive it,' the association said. Read original story on At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
The Citizen
7 days ago
- Automotive
- The Citizen
Call for transparency on fuel levy allocation and spending
Call for transparency on fuel levy allocation and spending The looming increase in the fuel levy will have immediate and far-reaching consequences for consumers and the economy. This is according to the Automobile Association (AA) which says any increase in fuel 'inevitably drives up transport and operational costs, further intensifying inflation'. 'Fuel is a critical input cost across all sectors of the economy,' the AA said in a statement. ALSO READ: Fuel levy hike to hit consumers as road freight costs rise, warns transport association 'Lower-income households, which spend a greater share of their income on transport, will be disproportionately affected by this rise.' The association said while it understands the need to address fiscal pressures, 'turning to fuel levies to fill budget gaps is unsustainable'. They further called for transparency on how these funds are allocated and used. 'With the new adjustments in June, the combined cost of the GFL and the Road Accident Fund (RAF) Levy will exceed R6.00 per litre in some areas—accounting for more than 30% of the total pump price before adding the base fuel cost, distribution margins, and retail mark-ups,' the AA said. Don't have the ZO app? Download it to your Android or Apple device here: HAVE YOUR SAY Like our Facebook page and follow us on Twitter. For news straight to your phone invite us: WhatsApp – 060 784 2695 Instagram – zululand_observer At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
