Breaking: Steep Fuel hike announced

The government is expected to increase fuel prices yet again on Wednesday

Motorists will face large fuel price hikes on Wednesday, as the petrol levy cut falls from R1.50 a litre to 75c.

Petrol prices will be hiked by R2.37 (93) and R2.57 (95) a litre, while diesel prices will rise by R2.31 (0.05% sulphur) and R2.30 (0.005% sulphur) a litre, the Department of Mineral Resources and Energy announced on Monday.

Paraffin prices will increase by R1.66 a litre, while the maximum LPGas retail price will fall by R2.18/kg.

In April, government cut the petrol levy by R1.50 a litre in an effort to relieve the economic stress of surging fuel prices.

But from Wednesday, this has been lowered to only 75c – and the full levy will take effect from next month. The levy relief is costing government billions.

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