Petrol pain: Govt needs to recoup about R2bn for fuel subsidy

18 November  2018

The state will likely recoup the R2bn that it subsidised the fuel price in November over two months rather than taking it all back in December.

This is according to Efficient Group chief economist Dawie Roodt, who added that rather than using the standard formula for calculating the fuel price, the government would directly play a role by deciding how much of the so-called Slate levy it wanted to recoup.

"The state is out of pocket by around R2bn as a result of subsidising the fuel price in November. My expectation is that they will recoup it over two months rather than taking it all back in December in which case we could be looking at a reduction in the petrol price of around R1.50 a litre while diesel will drop by about 90 cents a litre."

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Source: 
Fin24

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