South Africa will extend a fuel subsidy by two months to help cushion consumers and businesses against the impact of rising crude prices stemming from Russia’s war with Ukraine.
A levy on fuel will be reduced by 1.50 rand ($0.10) from June 1 to July 6, a concession that has been in place since April 6, while a 75-cents-per-liter cut will be instituted from July 7 to Aug. 2, the National Treasury and Department of Mineral Resources & Energy said in a statement on Tuesday.
