South Africa to Lower Fuel Levy as Gasoline Price Spike Looms

South Africa will reduce a tax imposed on fuel to offset the impact of surging oil prices on domestic gasoline, Finance Minister Enoch Godongwana said.

By S'thembile Cele, Rene Vollgraaff · Bloomberg Markets

South Africa will reduce a tax imposed on fuel to offset the impact of surging oil prices on domestic gasoline, Finance Minister Enoch Godongwana said.