'International petroleum prices this week suffered one of their steepest plunges in recent years as coronavirus fears hit global economic activity.'
Finance minister Tito Mboweni hit motorists with steep fuel price increase in his 2020 budget speech on Wednesday, with a 25c a litre fuel levy to be implemented on April 1.
"International petroleum prices this week suffered one of their steepest plunges in recent years as coronavirus fears hit global economic activity. The silver lining in this cloud are predicted substantial fuel price reductions for South Africans," said the AA. On Wednesday Mboweni announced a combined 25c increase to the two main fuel levies: 16c will be added to the general fuel levy, bringing it to R3.63 on every litre of fuel, and motorists will pay 9c more for the Road Accident Fund levy, bringing it to R2.07 on every litre of fuel.
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