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Absa Group Ltd. economists estimated in a research note that fuel prices could jump “by a staggering 16% month-on-month” should the 1.50 rand (10 cents) a litre reduction in the fuel levy not be extended. Latest Central Energy Fund data show an average under-recovery on gasoline of about 2.40 rand per litre in May, pointing to an increase for that fuel of about 10%, before adding in the full levy.

Portfolio Committee on Mineral Resources and Energy, 1st April 2022

Portfolio Committee on Mineral Resources and Energy, 25th March 2022

Commitee report

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