Treasury has granted an extension of the reduction in the general fuel levy, which will soften today’s fuel price hike. The petrol levy was cut by R1.50 a litre for April and May as government sought to relieve the economic stress of surging fuel prices.

Around R6bn of the state's strategic oil reserves were sold to fund the levy cut.

But the sale will not entirely fund the extension.

The R1.50 relief will be extended from 1 June until 6 July, followed by a downward adjustment to the relief for the second month – to 75c per litre from 7 July until 2 August.

It will be withdrawn from 3 August, according to a joint statement from National Treasury and the Department of Mineral Resources & Energy.

The revenue lost by the extension is estimated at some R4.5bn, reports Fin24.

Oil prices have been soaring in recent months amid the fallout from Russia's invasion of Ukraine. South Africans have seen fuel prices rise by a third over the past year.

Full Fin24 report

The Citizen reports that the EFF said it will engage in consultations with key stakeholders to consider a national shutdown to protest the fuel price hike.

The party said that it was not shocked by the increase as it believes that the government did not have ‘a practical and believable plan to address the rising cost of living in the short and medium-term or even the long term’.

Full report in The Citizen