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Motorists beware, driving is going to cost at least 28 cents a litre more from April 4, thanks to a rise of 20 cents a litre in the fuel levy on petrol and diesel and an increase of eight cents a litre in the Road Accident Fund levy.
In its Budget Review document, the Treasury said the general fuel levy on petrol would rise to 197.50 cents a litre from 177.50 cents a litre, while the general fuel levy on diesel would be increased to 182.50 cents a litre from 162.50 cents a litre. The customs and excise levy on petrol and diesel remains at four cents a litre while the RAF levy increases to 88 cents a litre.
The bottom line is that as from April 6, motorists will be paying total levies of 289.50 cents a litre on petrol and 274.51 cents a litre on diesel. For petrol, this equates to around 26.9% of February's pump price and 26.7.3% of the diesel pump price.
While motorists won't know it, or feel it, these percentages have dropped over the past two years. In 2010/11, taxes and levies accounted for 31% of the pump price of petrol and 32.6% of the pump price of diesel. - I-Net Bridge
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ET1, wrote
Fair enough, but they should start using these levies effectively! If they'd done that in the past, they would have had enough (or almost enough) money to upgrade the roads on a continuous basis. But I'm sure the money will be well spent towards excellent increases and bonuses...
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